Pension law revised to utilise savings for Hajj pilgrimage
Workers can use the retirement scheme to finance first-time Hajj pilgrimages.
11 Mar 2019, 9:00 AM
President Ibrahim Mohamed Solih on Sunday ratified amendments approved by parliament to the Pension Act last month.
The government-sponsored legislation was proposed to allow utilisation of the retirement pension scheme to fund Hajj pilgrimages.
The legal changes allows workers enrolled in the mandatory scheme to finance first-time Hajj pilgrimages and cover 50 percent of the cost from their savings.
It was a campaign pledge of President Solih and a target of his administration’s first 100-day action plan.
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