NRB Bank signs MoU with National Pension Authority

NRB Bank PLC has signed a memorandum of understanding (MoU) with the National Pension Authority (NPA) to facilitate and accelerate the implementation of various schemes under the Universal Pension Scheme (UPS).

Md Mohiuddin Khan, executive chairman of the NPA, and Tarek Reaz Khan, managing director and CEO of the bank, signed the MoU at the conference room of the finance division at the Bangladesh Secretariat in the capital recently, according to a press release.

Md Khairuzzaman Mozumder, secretary of the finance division at the Ministry of Finance, attended the signing ceremony as the chief guest.

The Universal Pension Scheme, administered by the National Pension Authority, comprises four distinct programmes: Probas, Pragati, Suraksha and Samata. Each enrollee is issued a unique pension ID, allowing them to monitor their contributions and accrued returns in real time through an online platform.

Beyond ensuring financial security post-retirement, the scheme offers a range of additional benefits, including income tax concessions, access to loans, and government co-partnership for economically disadvantaged groups.