In just 10 months of its launching, the number of registration to the universal pension scheme crossed a new milestone of three lakh for the first time as it reached 3,03,176 on June 10, 2024.

Earlier on August 17, 2023, the Universal Pension Scheme was rolled out in Bangladesh by prime minister Sheikh Hasina in order to ensure a sustainable and well organised social security to the elderly community of the country to materialize the dream of building discrimination less society.

The pension scheme was initially launched in four titles namely– ‘Probash’, ‘Pragati’, ‘Surokkha’ and ‘Samota’.

Later, a new and fifth scheme titled ‘Prottoy’ has been introduced for the officials and employees of the self-governed, autonomous and state-owned enterprises which will come into effect for the staff of such bodies joining from July 1, 2024.

According to a press release of the National Pension Authority, the number of registration to Probash scheme till date reached 799, Pragati scheme 21,294, Surokkha 56,919 and to Samota scheme 2,24,164 respectively.

Mentionable, already some 87 NGOs have enrolled themselves in the Pragati scheme and thus providing subscriptions against the employees of their organisations.

The field administration has been involved actively to reach the benefits of the universal pension scheme to the doorsteps of common people, the release added.

Headed by the principal secretary of the Prime Minister’s Office, ‘Universal pension operations implementation and coordination committees’ have been formed at national, divisional, district and upazila level while the field administration has been given specific directives.

Besides, the officials of the PMO have been given the task of division-wise monitoring of such operations for which divisional commissioners, deputy commissioners, UNOs have been regularly monitoring the registration activities to the scheme at divisional, district and upazila level.

Steps have also been taken to involve people from all strata to the pension scheme through organising fairs and workshops at divisional level. Already such pension fair and workshop was held on April 19 at Rajshahi and on May 5 in Rangpur while such kind of fair and workshop would be held in the district level.

Sufficient number of fliers and booklets has been sent to the field administration for distributing those among the common people for creating awareness on pension scheme while such activities would continue.

Besides, initiatives have been taken to involve the entrepreneurs of the Union Digital Centers and due to the cumulative results of such initiatives, the number of registration to the universal pension scheme reached a new milestone of over three lakh.

So far, Taka 62 crore has been invested at treasury bond, considered as a safe source of investment, from the subscribed amount of the pensioners while such pace in the registration process to the universal pension scheme would continue.

Currently, two public banks, two private banks and one mobile financial service provider are being involved in collecting the monthly subscriptions of the pension scheme.

Efforts are on to involve four more public banks, four private banks and one mobile financial service provider in the monthly subscription realization process which is expected to expedite further the overall pension scheme operations.

The concept of the universal pension scheme has been popularizing day by day in order to ensure financial security of the citizens of the developing countries.

Considering such global context, the present Awami League (AL) government has rolled out the Universal Pension Scheme to provide financial security to the elderly people at their later stage of life.

Such kind of initiative by Prime Minister Sheikh Hasina has become an epoch making welfare-oriented step in the history of Bangladesh which would be regarded as the ‘charter of financial emancipation’ during the post retirement life of all citizens.

In this continued process, Bangladesh would emerge as a more welfare-oriented state.

Mentionable, each and every operation of the universal pension scheme from registration to monthly subscription is being processed at digital IT platform which would play a strong role in building a smart and prosperous Bangladesh by 2041 as envisioned by prime minister Sheikh Hasina.