Maldives Retirement Pension Scheme (MRPS) is a contributory pension scheme introduced under the Pension Act of Maldives. The primary objective of this scheme is to ensure that individuals save during employment to cater for their livelihood in retirement.

The Pension Act mandates local employees between 16 and 65 years of age, as well as their employers, to participate and pay monthly pension contribution to MRPS. Contribution collected through MRPS is invested to maintain its value and maximize members' savings.

The accumulated savings from contributions and investments are disbursed to members as pension payments upon reaching the pensionable age of 65 years. Members eligible for early pension withdrawal gain access to their Retirement Savings Account(RSA) at the age of 55 years. Furthermore, MRPS offers the opportunity for members to use their RSA balance as collateral for home loans and to utilize funds towards obligatory Hajj expenses.