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Pragati scheme

Monthly ceiling rises to Tk 10,000

Pension body, RJSC sign MoU

FE REPORT | November 21, 2023 00:00:00

The government has raised depositors' monthly contribution ceiling up to Tk 10,000 from the previous highest Tk 5,000 under the "Pragati" scheme of the Universal Pension Scheme.

Employees of private firms and their employers now can deposit the enhanced amount of monthly contribution to their pension accounts.

Meanwhile, the National Pension Authority on Monday signed a memorandum of understanding (MoU) with the Office of the Registrar of Joint Stock Companies and Firms (RJSC) aiming to simplify the participation of the employees of private companies in the scheme.

National Pension Authority executive chairman Kabirul Ezdani Khan and RJSC registrar Abdus Samad Al Azad signed the MoU on behalf of their respective institutions, reads a press release.

On August 17, Prime Minister Sheikh Hasina launched operations of the Universal Pension Scheme.

The four schemes launched under the Universal Pension Scheme are 'Probash' (for expatriate Bangladeshis), 'Pragati' (for private employees), 'Surokkha' (for the self-employed) and 'Samata' (for low-income people).

As of October 2023, according to the release, the RJSC provided registration to some 287,000 business entities.

Thanks to the signing of the instrument, officials and employees of private organisations and firms will be able to easily get registered with the Pragati scheme.

An estimated 16,000 Bangladeshi nationals have so far registered themselves with the scheme.

The authorities have invested Tk 113.10 million in the 10-year treasury bond.

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