Pension Office receives MVR 100 million within a month for the first time in history.
Statistics published by the Pension Office show MVR 41.1 million was deposited by state institutions and companies as pension funds last July.
Furthermore, independent companies had deposited MVR 58.8 million as pension funds within the same period. This marks the first time such a huge sum had been deposited at the office in the last nine years.
With the increase in contributors to the pension fund, the deposited amounts have been on the rise each year.
Last year, the largest amount, MVR 98 million, was deposited during December. In 2017 the largest amount was deposited during August, which was MVR 94 million.
While money has been deposited to the pension fund since 2010, a total of MVR 165 million was deposited to the fund during that year. However, the yearly deposit amount has now reached billions, the first of which was during 2017.
Till August this year, a total of MVR 691 million has been deposited to the pension fund. 79 percent share of the amount deposited to the pension fund belongs to private companies, while the government institutions have a 20 percent share.