The interim government plans to strengthen the universal pension scheme (UPS) with the aim of bringing people from all walks of life under a sustainable social security framework.
The universal pension would be out of reach of the extremely poor, such as day labourers, due to their inability to make contributions.
The scheme is not 'universal' as it does not encompass government officials.
The goal of the universal pension scheme is to bring all the citizens of Bangladesh under its coverage.
Why should we feel embarrassed for wanting a secure financial future?
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Of the total deposits of Tk 86.68 crore, Tk 62 crore has been invested at treasury bonds
All government officials who will be recruited after July 1 next year will be incorporated in the universal pension scheme
Bangladesh made a major step towards a universal pension scheme when parliament passed the Universal Pension Management Bill-2022 on January 24 with a view to bringing the country’s growing elderly population under a social security system.
A bill was placed in the Jatiya Sangsad yesterday, aiming to include citizens aged between 18 and 50 in a pension scheme.
The country’s people aged 18 to 50 years would be eligible for the universal pension scheme, to be introduced by the government after becoming 60 years old.
The Bangladesh government recently announced a move to roll out a pension plan, initially named the Universal Pension Scheme (UPS), during the 2022-23 fiscal year.
The government is set to launch a retirement fund for Bangladeshi citizens aged 18-50 years. Khondoker Md Shoyeb explains the nitty-gritty of the matter at today's Star Explains.
