Reversion to pension system for old pensioners

The Finance Division, Ministry of Finance published a gazette notification on October 08, 2018. The notification allowed reversion to pension system of government employees who have surrendered 100 per cent of their pension money after completing 15 years of retired life.

This would support old pensioners through their financial problems. It needs to be noted that such facility of reversion to pension system exists in Sri Lanka, India and Pakistan where the duration of gap between retirement and pension reversion is less than 15 years.

Following recommendation from the Finance Minister, the proposal was approved by the Prime Minister. The old pensioners appreciate their noble gesture. The matter is still awaiting implementation. But it has been stated in the first line of the second paragraph of the notification that the rules and processes followed for determining the regular pensioner's monthly pension will be applicable for determining the monthly pensions of those pensioners who had surrendered 100 per cent of their pensions. Even then if new rules and procedures are required, it is hoped that these can be done expeditiously while keeping in mind the spirit of introduction of the scheme.

I request the authority to look into this matter.

Abdul Malek,

A retired senior banker

Gandaria, Dhaka