TDS Desk:

The government has approved a profit rate ranging from 11.68 per cent to 11.72 per cent on investments made by subscribers under the Universal Pension Scheme for 2025–26 fiscal year.

The approval was granted at the 4th board meeting of National Pension Authority (NPA), held at 1pm on Thursday in the conference room of the Finance Division.

Finance and Planning Minister Amir Khosru Mahmud Chowdhury presided over the meeting. NPA Executive Chairman Md Suratuzzaman conducted the proceedings in accordance with the agenda.

Following the board’s decision, profit at the approved rate will be credited to subscribers’ accounts against their investments for the specified fiscal year.

Alongside reviewing overall operations, the board discussed several key proposals to expand subscriber benefits and enhance investment management efficiency.

In a major decision aimed at making the pension framework more public-friendly and participatory, the board decided to allow nominees of deceased pensioners to receive pension benefits up to 80 years of age, extending the previous limit of 75 years.

A proposal to introduce an Islamic version of the Universal Pension Scheme was also given significant priority.

Discussions were held regarding necessary preparations and operations to launch Shariah-compliant editions of the “Probash,” “Progoti,” “Shurokkha,” and “Shomota” schemes.

Officials expect that providing Shariah-compliant investment options will further integrate a section of the country’s Muslim population into the pension system.

The meeting also deliberated on allowing subscribers to withdraw funds under special circumstances.

A decision was made to request a proposal with specific recommendations to consider allowing withdrawals under defined conditions for physical or financial disability, provided installments have been deposited for a minimum of five years.

To boost subscriber registration, a proposal to raise the commission paid to Union Digital Centres from Tk15 to Tk25 was discussed.

The board also discussed setting commission rates for other authorised institutions, including banks, the Postal Department, and Mobile Financial Services (MFS).

Additionally, the introduction of health insurance under the Universal Pension Scheme was brought under discussion.

During the session, progress on implementing decisions from the previous board meeting was reviewed.

Following discussions on various proposals to make the system more sustainable, effective, and subscriber-friendly, instructions were issued to relevant officials regarding necessary next steps.

The NPA stated that the pension system is being operated with the goal of bringing people from all professions and social strata under long-term social and financial security.

Initiatives are being taken to broaden the scope of the scheme by increasing subscriber trust, delivering investment benefits, and adding new facilities.

The meeting was attended by the finance secretary, secretaries from various ministries, a representative of the governor of Bangladesh Bank, the chairman of Bangladesh Securities and Exchange Commission (BSEC), and the administrator of FBCCI, among others.