Rules & rates
Self-employed, paid in dollars or not Maldivian: can you use the pension route?
The pension housing scheme is open to Maldivian MRPS members under 60. Self-employed people can join the MRPS voluntarily and build a balance; dollar earners contribute in rufiyaa; foreign residents can join the MRPS but cannot use it for a home. Who can, and how.
Self-employed
You can, once you have a balance. The Pension Office says participation is optional for self-employed people, and the Sixth Amendment to the Pension Act (May 2026) broadens access for them further. No registration is needed: you declare your contribution through the Koshaaru portal or the Pension app, pay against the invoice, and upload the slip. Once you have savings in your RSA, the housing rules are the same as for anyone else:
- Maldivian;
- under 60;
- able to repay before 65.
A larger balance means more you can pledge. If you plan to buy in a few years, regular voluntary contributions now are one way to build the deposit.
Paid in US dollars
Your pension is in rufiyaa. The Pension Office says contributions are calculated on the rufiyaa value of your basic salary, and savings, returns and payouts are all recorded in MVR. The amount you can pledge is a rufiyaa figure. Lenders' home financing (Maldives Islamic Bank and HDFC) is also in rufiyaa. Ask your lender how it treats dollar income when it assesses you.
Foreign residents
Not for this scheme. Foreign employees may join the MRPS voluntarily. However, the housing benefit is open only to a Maldivian citizen under 60. A foreign resident with MRPS savings cannot pledge them for a home.
Already drawing your pension
No. The scheme is not open to anyone already receiving the MRPS retirement benefit, including early pension from 55.
Everyone
The pledge goes through an approved lender: Bank of Maldives, Maldives Islamic Bank, HDFC, Mauritius Commercial Bank or Commercial Bank of Maldives. The home must be one you will live in, sold publicly.
Pension Office: hotline 1441, Viber 733 1441, info@pension.gov.mv, pension.gov.mv. Your pledgeable amount is on your RSA statement, in the Pension mobile app and on the website.
From the Maldives Pension Administration Office's own housing pages, FAQ and leaflet, read on 18 October 2026. Your lender's terms decide the rest; confirm them before you commit. General information, not financial advice.
Ask the concierge about buying with your pension
Sources and method
- pension.gov.mv/en/housing (Pension Office, MRPS Housing Benefit, read 18 October 2026)
- pension.gov.mv/en/faq/housing (Pension Office, housing FAQ, read 18 October 2026)
- pension.gov.mv/en/faq/mrps (Pension Office, MRPS FAQ, read 18 October 2026)
Prices are asking prices as listed through Binga unless marked achieved, and are dated. Developer descriptions are reported as the developer's own. Facts the desk could not verify are left out. Spotted an error? Write to hello@binga.mv; corrections are noted at the foot of the piece.
- For buyers
- Organisation Maldives Pension Administration Office (Pension Office)
- Topic eligibility
- Topic faq
- Topic home finance
- Topic pension
Binga Properties is a real-estate concierge; it may represent homes and developments mentioned here.
