News Desk
Former Judicial Service Commission (JSC) vice president Yazmeed Mohamed has been appointed as the Chief Executive Officer of the Maldives Pension Administration Office (MPAO) for a five-year term.
The board confirmed Yazmeed’s appointment, filling the top post at the state pension fund following a wave of high-profile resignations across the agency’s leadership and board.
The executive shakeup came after the Pension Office board decided to sell off MVR 2.4 billion in pension fund bonds to the Maldives Monetary Authority (MMA) and reinvest those funds back into government securities. Senior staff and board members walked out over the deal, warning the maneuver carries serious economic risks for the country’s retirement reserves.
Yazmeed, a certified chartered accountant (ACCA) with an MBA from Open University Malaysia and an accounting degree from Oxford Brookes University, steps into the post with over 20 years of public sector experience. He previously served as an Audit Manager at the Auditor General’s Office and was a member of the Anti-Corruption Commission (ACC) from 2014 to 2019.
Hailing from Ga. Vilingili, Yazmeed comes from a family with deep ties to the ruling People’s National Congress (PNC). He ran on the PPM/PNC ticket in parliamentary elections before being appointed as President Dr Mohamed Muizzu’s representative to the judicial watchdog.
Yazmeed stepped down from his JSC post in May while facing an internal investigation over leaked audio recordings. The recordings reportedly captured him attempting to influence a criminal case and instructing locals not to vote for PNC candidates in council elections. His exit from the watchdog cleared the way for a lawyer who worked closely with President Muizzu during his tenure as Malé City Mayor to step into the commission.
The Pension Office is tasked with managing the Maldives Retirement Pension Scheme and the Old-Age Basic Pension, looking after funds for over 107,000 active members and 25,000 elderly citizens across the country.
