Khosru Wants Pension Coverage for Every Family by 2030

Finance Minister Amir Khosru Mahmud Chowdhury on Tuesday directed authorities to work towards bringing at least one member from every family in Bangladesh under the Universal Pension Scheme by 2030, stressing the need for a stronger and more inclusive social protection system to meet future demographic challenges.

The instruction came during a high-level meeting at the Finance Ministry, where officials reviewed the progress, challenges and future action plan of the Universal Pension Scheme.

The meeting was attended by Executive Chairman of the National Pension Authority Dr Md Surujjaman, Finance Secretary Dr Khairuzzaman Mozumder and other senior officials from the Finance Division and the pension authority.

During the meeting, the National Pension Authority presented an overview of the scheme’s current status and future expansion plans.

According to the presentation, a total of 377,545 citizens had registered under the four pension schemes — Probash, Progoti, Surokkha and Samata — as of 30 April 2026.

Officials said deposits in the pension fund have reached approximately Tk 255.70 crore, while cumulative investments, including profits, stood at around Tk 279.74 crore.

The meeting was informed that nearly 85 percent of Bangladesh’s workforce is employed in the informal sector, underlining the importance of extending pension benefits beyond formal employment.

Officials also highlighted concerns over the country’s rising old-age dependency ratio, which is projected to increase from 9.4 percent in 2023 to 24 percent by 2050 and nearly 48 percent by 2075.

Participants at the meeting stressed the need to make the pension system more sustainable, accessible and attractive to citizens across the country.

The Finance Minister expressed support for introducing a Shariah-based pension scheme and also discussed the possibility of providing lifetime pension benefits to nominees. He further emphasised the inclusion of outsourcing workers under the Progoti scheme.

Officials informed the meeting that the Asian Development Bank has committed concessional financing worth $100 million for a project aimed at strengthening the universal pension system. Feasibility assessment activities are currently underway.

The meeting also noted that pension contributions are now being collected through 45 banks and financial institutions, alongside digital financial services such as bKash, Nagad and Teletalk Bangladesh Limited.

Registration activities are also being conducted through Union Digital Centres nationwide to widen public access to the scheme.

Khosru said establishing a pension fund for private sector employees remains one of the government’s key commitments aimed at ensuring financial security for citizens in old age.

He also stressed the need to increase public confidence in the pension system through stronger awareness campaigns, improved cyber security and the recruitment of skilled professionals.

At the end of the meeting, officials agreed to take further measures to make the Universal Pension Scheme more effective, inclusive and accessible nationwide.