The Maldives Pension Administration Office has announced that over 23,000 Maldivians currently meet the eligibility criteria to utilize their retirement savings to perform the Hajj pilgrimage. According to the latest statistics, a total of 23,172 individuals—comprising 15,781 men and 7,391 women—are qualified to access their Retirement Savings Accounts for this purpose.

Under the existing scheme, 274 individuals have already performed Hajj using their pension funds. Eligibility for this opportunity is limited to first-time pilgrims who maintain a minimum balance of MVR 336,000 in their pension accounts. The demographic data reveals that the largest group of eligible members falls within the 45 to 55 age bracket, totaling 9,472 individuals. Significant eligibility was also noted among those aged 35 to 45 and those over 65.

Following a recent amendment to the Pension Act, the process has been further streamlined. Once a member pays 20% of the Hajj fee to a government-designated company, the remaining 80% can be settled via the Pension Fund. This legislative change, initially ratified in August 2019, aims to facilitate the religious obligation for a broader segment of the population.

However, strict financial regulations remain in place. Funds can only be withdrawn after deducting any amounts previously used for housing collateral. Furthermore, members must retain a sufficient balance to ensure a monthly pension payout of at least MVR 2,000 upon retirement. The Pension Office is currently finalizing new regulations in collaboration with relevant authorities, with completion expected by the end of next month. The policy also stipulates that if a member is unable to travel for Hajj after the funds are released, the amount must be returned to the office within 30 days of the Hajj date.