Bangladesh’s garment industry is looking to bring nearly 50 lakh workers under the country’s universal pension scheme, as the sector seeks to extend retirement protection to one of the country’s largest workforces.
The move could mark a major shift in labour welfare in the export-oriented industry, but industry leaders say successful implementation will depend on worker participation, affordability and a sustainable management system.
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) discussed the issue at a session on the universal pension scheme on Saturday at the BGMEA Complex in Dhaka, bringing together apparel manufacturers, worker representatives and officials from the National Pension Authority.
BGMEA President Mahmud Hasan Khan said all garment workers should be brought under the universal pension scheme quickly to strengthen their long-term financial security and support a broader social protection framework.
Mahmud Hasan said participation among workers would require additional incentives.
He proposed special government support for the first two years of enrolment and suggested reducing the pension eligibility age for garment workers to 55 years from the existing 60 years.
The proposal comes as Bangladesh seeks to expand formal social security coverage among workers, particularly in industries where millions of employees have limited access to structured retirement benefits.
National Pension Authority Executive Chairman Md Suratujjaman said the universal pension scheme was introduced to ensure financial security for citizens during old age.
Under the scheme, citizens aged between 18 and 50 years can make contributions through banks and receive pension benefits after reaching 60 years.
Suratujjaman said contributors who die before reaching the pension age will have their deposited money, along with profits, paid to their nominated beneficiaries. He added that contributors facing income difficulties can adjust their contribution amounts based on their financial situation.
He said the government has taken steps to strengthen the pension system, including a decision to invest nearly $100 million with financing support from the Asian Development Bank.
The government is also working on forming a pension fund, an initiative mentioned in its 2026 election manifesto.
National Pension Authority Member Sheikh Kamrul Hasan said the scheme was introduced to address the lack of adequate financial security arrangements for people after retirement.
He urged industrial owners to take steps to open pension accounts for workers, citing the latest amendment to the Bangladesh Labour Act 2026.
Hasan said industrial establishments employing more than 100 workers are required under the amended law to bring employees under the universal pension scheme.
He also called for wider household participation, saying efforts should be made to bring at least one person from every family under the pension system.
For the garment sector, the scale of implementation remains a major challenge.
BGMEA Senior Vice-President Inamul Haq Khan said bringing around 50 lakh garment workers under the scheme and maintaining their participation over the long term would be difficult.
“Despite the challenges, the government’s initiative is timely and important,” Inamul Haq Khan said.
BGMEA Vice-President Md Rezwan Selim said the scheme’s attractive rate of return could make it an effective tool for providing long-term financial protection to workers.
He said BGMEA would prepare a specific plan to bring garment workers under the programme.
During the discussion, apparel industry stakeholders and worker representatives raised questions about the scheme’s operation, benefits and implementation process. Officials from the National Pension Authority responded to their concerns.
