The state-owned Bangladesh Development Bank PLC (BDBL) has officially introduced subscription collection services for the government’s Universal Pension Scheme, marking a new step towards expanding social security coverage in the country.
The initiative was inaugurated at a ceremony held at BDBL’s head office board room in Dhaka on Tuesday.
Executive Chairman of the National Pension Authority Dr Md Suratuzzaman attended the programme as the chief guest. Officials from various BDBL branches across the country also joined the event virtually.
The launch comes after a memorandum of understanding signed between BDBL and the National Pension Authority on 14 July, 2025. As part of its preparation, the bank has opened a dedicated Special Notice Deposit (SND) account at its Principal Branch and integrated its Core Banking System with the authority’s digital platform to facilitate smooth subscription processing.
Speaking at the event, Dr Suratuzzaman highlighted the growing importance of structured pension systems in light of demographic changes. He referred to projections suggesting that Bangladesh’s life expectancy may rise from around 73 years to 84.3 years by 2075, while the elderly dependency ratio could increase significantly over the same period.
He also noted that the Universal Pension Scheme is designed to bring financial security to Bangladesh’s workforce of about 77.4 million people, most of whom work in the informal sector and currently lack formal pension coverage. The government aims to include at least one member from each of the country’s 40 million households under the scheme by 2030.
The scheme currently includes four categories: Probash for expatriates, Progati for private-sector employees, Surokkha for self-employed and informal workers, and Somota for low-income groups. Monthly contributions range from Tk1,000 to Tk15,000 depending on the selected package.
Officials also noted growing international support, including a US$100 million soft loan commitment from the Asian Development Bank, along with an ongoing feasibility study to strengthen implementation.
Future plans include introducing Shariah-compliant pension options and exploring lifetime benefits for nominees, aligning with broader social protection goals.
BDBL Managing Director and CEO Md Jasim Uddin said the bank’s participation would enhance financial inclusion and strengthen the country’s social safety net.
Following the launch, a training session was held for bank officials on customer registration and system operations.
