Khairul Alam: Universal Pension System was introduced in Bangladesh. It was launched on Sunday (August 13) with the announcement of relevant regulations.
Prime Minister Sheikh Hasina will officially inaugurate the program on Thursday (August 17).
Earlier, the government had implemented the ‘Universal Pension Management Act 2023’ to bring all the citizens of the country under the ambit of pension benefits. This rule was issued in accordance with the provisions of that Act.
The rules refer to the ‘Prabasi Scheme’ for overseas Bangladeshi nationals; the ‘Pragati Scheme for employees of private companies; the ‘Suraksha Scheme ‘ for self-employed citizens and the ‘Samta Scheme’ for self-employed low-income citizens will be launched.
All will be included in the scheme applicable to them. The customer can change the plan by giving proper reasons. The availability of a monthly pension will be earned subject to payment of the prescribed amount of contribution under each scheme.
All citizens in the age group of 18 to 50 years having a National Identity Card (NID) can register in the pension scheme.
However, under special consideration, citizens above 50 years of age can also join the scheme. In this case, you will be entitled to a pension for life from the age when you reach the end of one year of continuous contribution.
In this case, he will be paid till the age of 60 years. After this, he will get a pension at a fixed rate.
It has also been told in the rules that in which scheme you will get a monthly pension by contributing how much.
If overseas Bangladeshis do not have NID, they can register with a passport, but NID should be obtained and submitted within the shortest possible time.
Individuals covered by a Social Security program may participate in a pension plan subject to the surrender of program benefits.