The government has submitted a bill to amend the Pension Law to Parliament, which includes provisions allowing people who are not expected to live more than a year to withdraw money from their pension savings account even before reaching 65 years of age.

According to the bill submitted on behalf of the government by Milandhoo constituency Member Hussein Mufeeth, individuals diagnosed by a specialist doctor as being in a terminal illness state can withdraw a specified amount or all the money in their account, either in installments or as a lump sum. Terminal illness is defined as a condition where a doctor determines that even with adequate medical care, survival beyond 12 months is unlikely.

The proposed amendments to the bill also include provisions to allow money in the pension fund to be used as collateral for down payments on purchasing, constructing, or repairing homes.