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Notice

Title
Order to bring common people at all levels under universal pension
Details

The government is launching universal pension program (scheme) to bring all the citizens of the country under the pension system. Bangladesh Bank has ordered to bring the employees and officers of financial institutions under this universal pension.

In a notification from the Financial Institutions and Markets Department of Bangladesh Bank, the government enacted the Universal Pension Management Act-2023 on January 31, 2023 and the Universal Pension Scheme Rules-2023 on August 13, 2023 in order to include the people of the country, especially the elderly, in a sustainable and well-organized social security system. .

The public pension scheme is open to the participation of officers and employees of private institutions or owners of institutions, persons working in the informal sector or self-employed, low-income persons living below the poverty line and any Bangladeshi citizen working or staying abroad.

In order to fulfill the purpose of inclusion of the people of all levels of the country in a sustainable and well-organized social security circle, it is directed to take necessary measures to encourage the employees working in the finance companies to participate in the universal pension scheme. Bangladesh Bank has issued this instruction under the authority given in Section 41(2) (d) of Finance Companies Act-2023.

Attachments
PensionLaw.pdf
Image
Publish Date
01/04/2024
Archieve Date
01/12/2024