In the 2008 election manifesto, the Awami League committed to introducing a universal pension scheme. Although this has happened after 15 years, it is good news. Prime Minister Sheikh Hasina inaugurated the pension scheme on Thursday. The Finance Ministry said that about 10 crore people will come under the purview of pension facilities.
It is still not clear how 10 crore able-bodied men and women will be brought under the scheme. Universal Pension System has started its journey with four schemes- Pragati, Surokkha, Samta and Prabashi.
Prabashi scheme will be applicable for expatriate Bangladeshis, Pragati for private job holders and Surokkha for self-employed persons and Samata for low income people.
Over time, government employees and employees of autonomous and state-owned organizations will also be brought under the scheme.