One month after its launch, the universal pension scheme has garnered the enrollment of 12,972 individuals as of Sunday.
Currently, a sum of Tk7,67,27,500 has been deposited into the scheme.
The National Pension Authority (NPA) has hailed this as a positive response and stressed the need to enhance public awareness in both rural and urban areas.
Since its launch, the National Pension Authority noted significant interest in the pension program.
Currently, all citizens of the country, except government employees, are eligible for pension benefits under this scheme. This means that anyone over 18 years of age can now register for this scheme online.
While the specific sectors for investment of the pension scheme funds remain unclear, Planning Minister MA Mannan stated at an event on Saturday: "If a substantial amount of funds accrues through this scheme, it could potentially be utilized to support the development sector."
The government has implemented several initiatives to encourage the participation of the country's citizens in the pension scheme.
During the 24th session of parliament, which concluded on Thursday, Prime Minister Sheikh Hasina urged all citizens to become part of the scheme.
When asked about the progress of the pension scheme in one month, Golam Mostafa, a member of the National Pension Authority, said: "One month is not a long time. We are trying to include people from all walks of life. I am trying to reach out to the people and expatriates of the village in particular.”
More interest in Pragati
Four pension schemes – Pragati, Surokkha, Samata and Prabashi – have been launched initially.
Each scheme is aimed at different classes, so the amount of donations is also different.
Officials said the Pragati scheme has witnessed the highest number of account registrations, accounting for nearly half of the total accounts created thus far.
How to register
Bangladeshi citizens of all classes and professions between the ages of 18 and 50 years can participate in this scheme.
To register for the scheme, one needs a National Identity Card (NID).
People interested in registering for the scheme can do it by visiting the National Pension Authority's website: www.upension.gov.bd.
Interested persons have to fill up each part of the registration process with accurate information.
Bank account information will be required at this time. If anyone wants, they can nominate one or more people. In addition to the monthly donation, one can give the full donation for three months or once a year.
If one fails to pay within the stipulated date, they can pay the amount without penalty for the next month. From then on, a 1% delay fee will be added for every day.
If one does not pay three installments in a row, their account will be suspended.
However, if one declares themselves insolvent, then the account will not be suspended even if they do not pay for 12 months.
Registration and subscription can also be done by filling out the online form or directly visiting any branch of Sonali Bank.
Those who have crossed the age of 50 years can also participate in the universal pension scheme. But in that case, they will get a pension after paying for 10 years.