UCB partners with National Pension Authority for Universal Pension Scheme

United Commercial Bank PLC (UCB) has signed a Memorandum of Understanding (MoU) with the National Pension Authority (NPA), marking a significant step toward expanding the accessibility and efficiency of the Universal Pension Scheme (UPS) in Bangladesh.

Under this strategic partnership, UCB will act as a Banking Service Provider for the scheme, enabling seamless collection of pension instalments through a comprehensive network of secure banking channels, according to a press release.

These include UCB’s own exchange house, partner exchange houses, branches, sub-branches, agent banking outlets, retail and corporate internet banking platforms, and other authorised channels.

The MoU was formally signed by Mr. Md. Mahiuddin Khan, Executive Chairman of the National Pension Authority, and Mohammad Mamdudur Rashid, Managing Director and CEO of United Commercial Bank PLC.

The signing ceremony was attended by Dr. Md. Khairuzzaman Mozumder, Secretary of the Finance Division, along with senior officials from both organisations.

This collaboration underscores UCB’s commitment to supporting national financial inclusion efforts and enhancing pension accessibility for citizens at home and abroad.