# Which homes can you buy with your pension? Off-plan flats included

> The Pension Office's housing scheme covers homes bought to live in, sold on the open market, including flats handed over when construction finishes. What that means for buyers in Greater Malé's new developments, and what it leaves out.

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

The Pension Office sets two conditions for a home bought under its housing scheme. Its leaflet puts them slightly more fully.

## The conditions

**The website:**
- *"A housing unit intended for dwelling purposes"*; and
- *"A housing unit that are publicly offered and which will be handed over to the member on completion."*

**The Dhivehi leaflet:** homes bought **to live in**, either:
- **sold on the open market after being built**; or
- **sold to be handed over to the buyer once construction is complete.**

## What that covers

- **Off-plan flats** in new developments sold to the public, such as the towers going up in Hulhumalé Phase 1 and Phase 2. You pledge at booking, and the home is handed over on completion.
- **Completed flats** sold on the open market.

## What it appears not to cover

- **Homes bought to let.** The scheme is for *dwelling purposes*. If you plan to rent the flat out, ask your lender and the Pension Office before relying on your pension.
- **Private sales not offered to the public.** The wording is "publicly offered" or "open market".
- **Building on your own land, today.** The scheme as the Pension Office describes it covers buying a housing unit. The **Sixth Amendment to the Pension Act** (in force 21 May 2026) adds loans **to build or renovate** a house, but its regulations had not been published by 18 October 2026. See *Building on your own land? How the pension change could help*.

## The lender still decides the project

Even when a home qualifies for the pension scheme, your **lender** must agree to finance it. For off-plan flats, banks lend only in projects they have approved:
- **Maldives Islamic Bank:** six projects;
- **HDFC:** fifteen;
- **Bank of Maldives:** more than thirty.

Check both: the **home** must qualify for the pension scheme, and the **project** must be on your lender's list.

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))
- storage.googleapis.com/staging.mpao-1327.appspot.com/strapi/Housing_Leaflet_f46c9c774e/Housing_Leaflet_f46c9c774e.pdf (Pension Office housing leaflet, HL/V1/SEP22, Dhivehi) (https://storage.googleapis.com/staging.mpao-1327.appspot.com/strapi/Housing_Leaflet_f46c9c774e/Housing_Leaflet_f46c9c774e.pdf (Pension Office housing leaflet, HL/V1/SEP22, Dhivehi))
- 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))

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