Finance minister chairs high-level meeting on universal pension scheme

A high-level meeting on the progress, challenges and future action plans of the Universal Pension Scheme was held on Tuesday chaired by Finance Minister Amir Khosru Mahmud Chowdhury at the conference room of his office at Bangladesh Secretariat.

The meeting was attended by Executive Chairman of the National Pension Authority Dr. Md. Suratuzzaman, Finance Secretary Dr. Md. Khairuzzaman Mozumder and senior officials of the Finance Division and the National Pension Authority.

During the meeting, the Executive Chairman of the National Pension Authority presented a detailed overview of the current status of the Universal Pension Scheme.

The presentation revealed that as of April 30, 2026, a total of 377,545 citizens had been registered under the four pension schemes — Probash, Pragati, Surokkha and Samata — while total deposits in the pension fund reached approximately Tk 255.70 crore. Including profits, the total investment amount has risen to Tk 279.74 crore.

The meeting was informed that nearly 85 percent of Bangladesh’s labour force is engaged in the informal sector, while the country’s old-age dependency ratio is projected to increase from 9.4 percent in 2023 to 24 percent by 2050 and 48 percent by 2075. Against the backdrop of these demographic changes, participants stressed the need to make the Universal Pension Scheme more robust and inclusive, said a Finance Ministry press release.

The Finance Minister placed special emphasis on expanding the pension scheme and instructed the authorities to set a target of bringing at least one member from each of the country’s nearly 4 crore families under the scheme by 2030.

He also expressed a positive stance on introducing a Shariah-based pension scheme, considering lifetime pension benefits for nominees and including outsourcing workers under the Pragati scheme in order to make the programme more attractive and inclusive.

The meeting was further informed that the Asian Development Bank (ADB) has committed to providing a concessional loan of US$100 million for a project aimed at strengthening the universal pension system, while feasibility assessment activities are currently underway.

Officials said contributions to the scheme are currently being collected through 45 banks and financial institutions, as well as through bKash, Nagad and Teletalk. Registration activities are also being conducted through Union Digital Centres across the country.

The Finance Minister said the formation of a pension fund for private sector employees to ensure financial security during old age is one of the major commitments of the government’s Election Manifesto 2026.

He underscored the importance of enhancing public confidence in the pension scheme, strengthening promotional activities, ensuring cyber security and recruiting skilled and professional manpower for the successful implementation of the programme.

Following detailed discussions, the meeting decided to take appropriate measures to make the Universal Pension Scheme more effective and inclusive.

The Finance Minister thanked and congratulated the National Pension Authority for actively carrying forward the programme and called for continued collective efforts to bring the benefits of the Universal Pension Scheme to all citizens.