Universal pension: 8000 register on first day, 1700 deposit premium

At least 8,000 people have registered for the universal pension scheme on the very first day of its official launching on Thursday. Among them, 1,700 people have paid their monthly premium.

Golam Mustafa, a member of national pension authority, confirmed the news to Prothom Alo, detailing that some 6,000 people completed registration until Thursday evening and the number jumped to 8,000 at 12:00 am.

“As the entire system, from registration to premium payment, remains in service for 24 hours a day, the number of applicants is rising consistently,” he said, anticipating a further rise in registration in the days ahead.

The government introduced the universal pension scheme, with an aim to bring around 100 million people under the facility.

Initially, it is structured into four separate schemes for private sector employees, non-resident Bangladeshis, individuals from the informal sector, and low-income individuals.

Prime minister Sheikh Hasina virtually inaugurated the facility on Thursday. She assured that two other schemes will be introduced later. Finance ministry sources said the two schemes are for the labourers and students.

According to BSS, the main target of the universal pension scheme is to bring all the people of the country aged above 18 under its coverage and they will enjoy a lifetime pension facility after being their age 60.

The age limit for pension schemes was initially fixed at 50 years which was later revised. The people above 50 years also can enjoy pension facility after paying premium for 10 consecutive years.