A “Discussion meeting on the Universal Pension Scheme” was held today (September 5) with the participation of members of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and relevant stakeholders. The meeting was organized at Nurul Quader Auditorium of the BGMEA Complex in the capital at 11 am, a press release said.
BGMEA President Mahmud Hasan Khan was present as the chief guest in the meeting. Sheikh Kamrul Hasan, member of the National Pension Authority under the Finance Division of the Ministry of Finance, BGMEA Senior Vice President Enamul Haque Khan and Vice President Md. Rezwan Selim spoke as special guests. The program was presided over by the Executive Chairman of the National Pension Authority Dr. Md. Suratuzzaman.
Member National Pension Authority Sheikh Kamrul Hasan said in his welcome speech that considering the social and economic situation of the country, there was no financial security system in old age, so the government has launched the Universal Pension Scheme to ensure financial and social security in old age in Bangladesh, like in developed countries.
Executive Chairman of National Pension Authority Dr. Md. Suratuzzaman said in his keynote speech that the government has launched the Universal Pension Scheme to ensure the future financial security of the people of the country, which will become a major support for the financial security of citizens in old age. He said that citizens between the ages of 18 and 50 can deposit contributions in this scheme through banks and will get the deposited amount back in the form of pension when they complete 60 years. If a subscriber dies before the age of 60, his nominee will get the deposited amount along with profit, and if there is a problem in paying regular contributions due to income problems, there is also an opportunity to increase or decrease the amount of contributions.
He also said that the money deposited in the scheme will be returned to the subscribers on time and a better life will be ensured after the age of 60. He also said that the government has already decided to invest about $100 million in ADB funding to make the pension scheme more dynamic and strong. Moreover, the latest amendment to the Bangladesh Labor Act 2026 makes it mandatory to bring all industrial establishments with more than 100 workers under the universal pension scheme, so he called for taking initiatives to open accounts in the universal scheme for employees of such industrial establishments. Calling on BGME to play a leading role in getting entrepreneurs and workers associated with the garment industry involved in this scheme, he said that it is necessary to take initiatives to bring at least one person from each family under the universal pension scheme. Realizing the importance of the universal pension scheme, the current government has talked about forming a pension fund in the election manifesto 2026, which the government is working on implementing.
In his speech as the chief guest, BGMEA President Mahmud Hasan Khan said that the current government is fully committed to ensuring the overall welfare, social and financial security of the people. In that case, initiatives should be taken to include all garment workers in the universal pension scheme as soon as possible, which will play a historic role in implementing the government’s election promise and establishing a discrimination-free Bangladesh. He further said that to make this scheme more popular and attractive among the workers, special government incentives can be provided for the first 2 years and the pension age limit for garment workers can be set at 55 years instead of 60 years. If these reforms are implemented, workers will be more interested in joining the scheme spontaneously.
Speaking as a special guest, BGMEA Senior Vice President Enamul Haque Khan said that including about 5 million workers in the ready-made garment sector in the universal pension scheme and maintaining its continuous management later will be somewhat challenging. However, despite the challenges, the government’s initiative to launch this scheme is a very timely, groundbreaking and commendable decision.
Speaking as a special guest, BGMEA Vice President Md. Rezwan Selim said, considering the attractive ‘rate of return’ or profit rate of the universal pension scheme, it will play a unique role in the long-term security of our workers. Therefore, BGMEA will work with a specific plan to bring all the workers of the garment sector under this groundbreaking scheme.
When the participants present at the meeting raised various questions and doubts about the scheme, the Executive Chairman of the National Pension Authority reassured them through detailed explanations. The speakers said that the government has taken this program with the aim of bringing people from all walks of life of the country under a well-organized social security framework, and the involvement of a large employment-oriented sector like the garment sector carries special importance in this regard.
BGMEA members, owners of various garment industries, officials of the institutions, worker representatives and concerned stakeholders were present at the event.
