The central bank has directed to ensure the participation of all private bank officers and employees in the universal pension scheme launched in the country.
On Thursday (February 8), the Banking Regulations and Policy Department of Bangladesh Bank sent instructions to the chief executives of all banks.
Before this, on January 31, 2023, the government passed the universal pension management law with the aim of bringing all the people of the country, especially the elderly population, under a sustainable and well-organized social security system. The Universal Pension Scheme Rules, 2023 were enacted on August 13 of the same year. The public pension scheme can be participated by officers/employees of private organizations or owners of such organizations, persons working in the informal sector or self-employed, low income persons living below the poverty line. Any Bangladeshi citizen working or staying abroad is eligible to participate.
The Central Bank’s directive says, ‘In order to fulfill the objective of inclusion of the people at all levels in a sustainable and well-organized social security circle, it is directed to take the necessary measures to encourage the officers and employees working in banks (except state-owned commercial banks and specialized banks) to participate in the universal pension scheme.’
EAR/KSR/ASM
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