Finance Minister Amir Khosru Mahmud Chowdhury on Tuesday directed the authorities concerned to set a target of bringing at least one member from every family in the country under the Universal Pension Scheme by 2030.
He underscored the need for a more robust and inclusive pension system to address Bangladesh’s emerging demographic challenges in the coming decades.
The instruction came during a high-level meeting at the Finance Ministry conference room to review the progress, challenges and future roadmap of the pension programme.
The meeting, chaired by the finance minister, was attended by National Pension Authority Executive Chairman Dr Md Surujjaman, Finance Secretary Dr Khairuzzaman Mozumder and senior officials of the Finance Division and the pension authority.
During the meeting, officials presented an overview of the current status of the Universal Pension Scheme. As of April 30, 2026, a total of 377,545 people had registered under the four pension schemes — Probash, Progoti, Surokkha and Samata.
According to the presentation, total deposits in the pension fund have reached around Tk 255.70 crore, while cumulative investment, including profit, stood at Tk 279.74 crore.
Officials informed the meeting that nearly 85 percent of Bangladesh’s workforce is employed in the informal sector, underscoring the importance of extending pension coverage beyond formal employment.
The meeting also reviewed projections showing that the country’s old-age dependency ratio could rise from 9.4 percent in 2023 to 24 percent by 2050 and 48 percent by 2075, increasing the need for long-term social protection and retirement security.
Against this backdrop, participants stressed making the Universal Pension Scheme more effective, sustainable and inclusive.
The finance minister emphasised expanding the scheme nationwide and making it more attractive to citizens. He also expressed support for introducing a Shariah-based pension scheme, ensuring lifetime pension benefits for nominees and including outsourcing workers under the Progoti scheme.
Officials further informed the meeting that the Asian Development Bank (ADB) has committed concessional financing worth US$100 million for a project aimed at strengthening the pension system. Feasibility assessment activities for the initiative are currently underway.
At present, pension contributions are being collected through 45 banks and financial institutions, alongside digital platforms such as bKash, Nagad and Teletalk Bangladesh Limited.
Registration activities are also being carried out through Union Digital Centres across the country to broaden access to the scheme.
Khosru said establishing a pension system for private sector employees remains one of the government’s key electoral commitments aimed at ensuring financial security for citizens in old age.
He also stressed enhancing public confidence in the scheme through awareness campaigns, stronger cyber security measures and the recruitment of skilled professionals.
Following detailed discussions, the meeting decided to take necessary steps to further strengthen and expand the Universal Pension Scheme nationwide.
