# 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.

Source: Maldives Real Estate News, published by Binga Properties. URL: https://news.binga.mv/pension-housing-self-employed-dollar-earners-expats
Published: 2026-10-18T15:57:47.286Z · Updated: 2026-10-18T16:13:52.994Z · Event date: 2026-10-18

## 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.*

## Sources
- pension.gov.mv/en/housing (Pension Office, MRPS Housing Benefit, read 18 October 2026) (https://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) (https://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) (https://pension.gov.mv/en/faq/mrps (Pension Office, MRPS FAQ, read 18 October 2026))

Binga Properties is a real-estate concierge; it may represent homes and developments mentioned here.