BRPD Circular Letter No. 08: Participation in Universal Pension Scheme

Bangladesh Bank Chief Controller's Office Motijheel, Dhaka-1000 Bangladesh. Ref No.: BRPD/Regulatory Policy & Supervision Division 08 February 2024 BRPD Circular Letter No.-08 Date: ------------------- 25 Magh 1430 Managing Director / Chief Executive Officer All Scheduled Banks operating in Bangladesh Dear Sir, Regarding participation in the Universal Pension Scheme

1. To bring the people of all strata of the country, especially the elderly population, under the ambit of a sustainable and well-organized social security net, the Government of the People's Republic of Bangladesh has enacted the Universal Pension Management Act, 2023 on January 31, 2023, and framed the Universal Pension Scheme Rules, 2023 on August 13, 2023.

2. There is scope for participation in the Universal Pension Scheme by employees/staff of private institutions or owners of such institutions, individuals engaged in the informal sector or self-employed, low-income individuals living below the poverty line, and any Bangladeshi citizen working or residing abroad.

3. Now, with the objective of fulfilling the purpose of integrating the people of all strata of the country into a sustainable and well-organized social security net, you are hereby directed to take necessary measures to encourage the employees/staff working in your bank (excluding state-owned commercial banks and specialized banks) to participate in the Universal Pension Scheme.

Yours faithfully, (Mohammad Shahriar Siddique) Director (BRPD) Phone: 9530252