The National Pension Authority (NPA) has signed a memorandum of understanding (MoU) with the Office of the Registrar of Joint Stock Companies and Firms (RJSC) in order to facilitate the participation of private company employees in the universal pension scheme.

With the signing of the deal, it will be much easier for the officers and employees working in the companies registered under the RJSC to take part in the Progoti pension scheme, one of the four schemes dedicated to private company employees, according to a press release from the NPA.

The RJSC provides registration of various types of joint and single companies and business entities in the country. As of October this year, Bangladesh has 287,000 companies and firms registered with the RJSC, according to its data.

NPA Executive Chairman Kabirul Ezdani Khan and RJSC Registrar Md Abdus Samad Al Azad signed the MoU at the secretariat in Dhaka today. Finance Secretary Khairuzzaman Majumder was present as the chief guest.

Prime Minister Sheikh Hasina inaugurated the universal pension scheme on August 17 this year.

Under the universal pension scheme, there are four schemes: Probash (for expatriate Bangladeshis), Progoti (for private employees), Surokkha (for self-employed), and Somota (for low-income citizens).

Through the Progoti scheme, any private organisation can register and manage pension accounts for its employees. There are four deposit options—Tk 2,000, Tk 3,000, Tk 5,000 and Tk 10,000—in the scheme.

According to the NPA, about 16,000 Bangladeshi nationals have already registered under the universal pension scheme, and Tk 11.31 crore has already been invested in government treasury bonds.