Dhaka: Finance Minister Amir Khosru Mahmud Chowdhury on Tuesday directed the authorities concerned to set a target to bring at least one member from each of the country's nearly 20 crore families under the Universal Pension Scheme by 2030, stressing the need for a stronger and more inclusive pension system to address Bangladesh's future demographic challenges. The directive came at a high-level meeting on the progress, challenges, and future action plan of the Universal Pension Scheme held at the Finance Ministry conference room.
According to United News of Bangladesh, the meeting was chaired by the Finance Minister and attended by Executive Chairman of the National Pension Authority Dr. Md Surujjaman, Finance Secretary Dr. Khairuzzaman Mozumder, and senior officials of the authority and the Finance Division. During the meeting, the Executive Chairman of the National Pension Authority presented a detailed overview of the current status of the Universal Pension Scheme.
The presentation revealed that a total of 377,545 citizens have been registered under the four pension schemes - Probash, Progoti, Surokkha, and Samata - as of April 30, 2026. The total deposits in the pension fund have reached around Tk 255.70 crore, while the cumulative investment, including profit, has stood at Tk 279.74 crore. Officials highlighted that nearly 85 percent of Bangladesh's labour force is employed in the informal sector, underscoring the importance of expanding pension coverage beyond formal employment.
The meeting also addressed the country's old-age dependency ratio, which is projected to rise significantly from 9.4 percent in 2023 to 24 percent by 2050 and 48 percent by 2075, making long-term social protection and retirement security increasingly critical. Participants emphasized the need to make the Universal Pension Scheme more sustainable, effective, and inclusive.
The Finance Minister emphasized expanding the pension programme nationwide and making it more attractive to citizens. He expressed a positive attitude towards introducing a Shariah-based pension scheme, considering lifetime pension benefits for nominees, and bringing outsourcing workers under the Progoti scheme. The meeting was informed that the Asian Development Bank has pledged to provide concessional financing of US$100 million for a project aimed at strengthening the universal pension system, while feasibility assessment activities are currently underway.
Officials also stated that pension contributions are being collected through 45 banks and financial institutions, as well as through digital financial platforms, including bKash, Nagad, and Teletalk Bangladesh Limited. Registration activities are conducted through Union Digital Centres across the country to widen access to the scheme. Khosru highlighted that establishing a pension fund for private sector employees is a key commitment outlined in the government's election manifesto to ensure financial security for citizens during old age.
He also stressed the importance of increasing public confidence in the pension system through awareness campaigns, enhanced cyber security measures, and the recruitment of skilled and professional manpower. Following detailed discussions, the meeting decided to take necessary measures to make the Universal Pension Scheme more effective and inclusive. The Finance Minister thanked officials of the National Pension Authority for actively carrying forward the programme and urged all stakeholders to continue coordinated efforts to bring the scheme closer to every citizen in the country.