Finance Minister Emphasises Expansion of Universal Pension Scheme

Finance Minister Amir Khasru Mahmud Chowdhury has stressed the importance of expanding the Universal Pension Scheme and making it more inclusive. He directed the concerned authorities to set a target of bringing at least one member from each of the country’s nearly 40 million families under the scheme by 2030.

A high-level meeting on the Universal Pension Scheme was held today at the conference room of the Finance Minister’s office at the Secretariat, chaired by the minister himself. The meeting was attended by Executive Chairman of the National Pension Authority Dr. Md. Surathuzzaman, Finance Secretary Dr. Md. Khairuzzaman Mozumder, and senior officials from the Finance Division and the National Pension Authority.

The meeting was informed that as of April 30, 2026, a total of 377,545 citizens had been registered under the four pension schemes — “Probash,” “Progoti,” “Surokkha,” and “Somota.” Total deposits in the pension fund have reached approximately Tk 255.70 crore, while the total investment amount, including profits, has risen to Tk 279.74 crore.

Participants at the meeting noted that nearly 85 percent of the country’s workforce is employed in the informal sector. They also highlighted that the old-age dependency ratio is projected to increase from 9.4 percent in 2023 to 24 percent by 2050 and 48 percent by 2075.

In this context, the participants underscored the need to make the Universal Pension Scheme stronger and more inclusive.

The Finance Minister also expressed a positive stance on introducing a Shariah-based pension scheme, considering lifetime pension benefits for nominees, and including outsourcing workers under the “Progoti” scheme.

The meeting was informed that the Asian Development Bank has pledged a concessional loan of US$100 million to strengthen the Universal Pension system, and a feasibility assessment is currently underway.

At present, pension contributions are 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 Centers across the country.

The Finance Minister said ensuring financial security for private sector employees during old age is one of the government’s key electoral commitments. He stressed the importance of increasing public confidence in the scheme, strengthening awareness campaigns, ensuring cybersecurity, and recruiting skilled manpower.

The meeting concluded with a decision to take necessary measures to make the Universal Pension Scheme more effective and inclusive.