The Board of Pension Office revises the MRPS administration fee effective 1st January 2024. MRPS administration fee is a fee charged from MRPS members RSA in accordance with the Pension Act of the Maldives. The proceeds are utilized for the administrative expenses of the Pension Fund and Pension Office. This is the 4th revision to the admin fee, however, this is the first time different rates were fixed for post and preretirement portfolios. With this revision admin fee will be reduced from 0.6% to 0.5 and 0.6% to 0.4% from preretirement portfolios and postretirement portfolios respectively.