6 new benefits being added to universal pension scheme

The National Pension Authority has taken the initiative to add six new benefits to make the Universal Pension Scheme more attractive and people-friendly. The proposals include allowing withdrawal of deposited funds under special circumstances after five years of contributions, lifetime pension for the spouse after the pensioner's death, pension starting from age 55, an Islamic pension system, health insurance, and an increase in the commission for registering institutions.

These proposals are scheduled to be discussed at a meeting of the board of directors of the National Pension Authority on Thursday, September 17. If approved, steps will be taken to implement them later. As such, these benefits are not being introduced right away.

Currently, four schemes are in operation under the Universal Pension Scheme: Pragati, Surokkha, Samata and Probash. According to government data, as of September 5, 2026, the total number of registered subscribers under these schemes is 379,327.

Under the current system, once someone joins a scheme, there is no easy option to exit. The new proposal states that after contributing regularly for five years, if a subscriber becomes physically or financially unable to continue, they may be allowed to withdraw their deposited funds under special consideration.

There is also a proposal to provide a lifetime pension to the nominated husband or wife after the pensioner's death. Currently, if a pensioner dies before reaching 75, the nominee receives the pension only for the remaining period up to 75 years.

Under current rules, there is a provision to receive pension at age 60 after fulfilling certain conditions. The new proposal suggests reducing that age to 55. At the same time, discussions are underway on launching a version of the pension under a Shariah-based investment and profit system.

There is also a proposal to add health insurance benefits for pensioners. Additionally, there is a proposal to increase the commission for banks, the postal department, mobile financial services and other authorised institutions from Tk 15 to Tk 25 to increase customer registration.

Furthermore, discussions are underway on creating a reserve or contingency fund to address risks arising from long-term inflation and changes in investment profit rates. The National Pension Authority's website currently states that pension fund money is kept in various investments, including government treasury bonds.