Registered members of the Universal Pension Scheme can now pay their monthly contributions through the ‘upay’ app following a Memorandum of Understanding (MoU) signed between the National Pension Authority and the fintech company.
The agreement, aimed at making the payment process simpler, faster, and more secure, was signed at a ceremony held recently at a hotel in the capital. Upay is a digital financial service provider operated by United Commercial Bank PLC (UCB).
Under the terms of the MoU, subscribers will be able to settle their monthly contributions via the upay mobile application or through the company’s extensive agent network located across the country. The two organisations intend to provide a secure, reliable, and user-friendly digital payment solution to facilitate quick payments from anywhere in Bangladesh.
The signing ceremony was attended by Dr Md Suratuzzaman, Executive Chairman of the National Pension Authority, and Munshi Abdul Ahad, Member (Fund Management), alongside other senior officials from the Authority. Representing upay were Shyamal B Das, Managing Director and Chief Executive Officer; Md Mahbub Sobhan, Chief Business Officer; and Hasan Mohammad Zahid, Deputy Director.
Speaking at the event, Dr Md Suratuzzaman stated that the National Pension Authority is committed to making the pension scheme more accessible and technology-driven. “Through this partnership with upay, customers will be able to pay their monthly pension contributions securely and hassle-free,” he said. He further noted that the initiative would play a significant role in expanding the Universal Pension Scheme and promoting greater financial inclusion nationwide.
