The ‘universal pension scheme’ is now largely stagnant. At one time, where 4-5 thousand people were enrolling or registering every day, now it has reduced to 4-5 people within a year. Not even a single customer joins this scheme any day. Those who used to pay installments every month, lost interest and are not depositing the installments. And their number is not less. The non-payment rate is reported to be high.
Already, the obligation to join the scheme for teachers of government, autonomous and various public universities has been lifted. In the face of widespread criticism and agitation, the government withdrew the ‘certification’ scheme for the employees of these institutions by issuing a circular in August. As a result, the entire scheme has now become dependent on the private sector. Due to this the success of the scheme is now in question. Many have also questioned the rationale of continuing the scheme in the existing context. Because, the government has to spend a huge amount of money every month to run this scheme.
Meanwhile, the salaries of the officers and employees of the National Pension Authority constituted for the administration of the scheme have to be borne from the state exchequer, whether or not the subscribers join the scheme. It is said that the pension scheme authority has to spend around 30 lakh rupees per month. Because, the salary of the executive chairman of the authority is 3.5 lakh taka. Added to this are car facilities with full time driver and telephone and mobile facilities as per actual cost. Similarly, the salary of the members of the authority is fixed at 3 lakh taka. Also car facility with full time driver and telephone and mobile facility as per actual cost. Every month they withdraw this money.
In view of this, a meeting of the Governing Council of the National Pension Authority has been convened on Monday (October 14). Ex-officio Finance and Trade Advisor to preside over this council meeting. Salehuddin Ahmed. It is said that the meeting will be held in the afternoon at the Ministry of Finance Secretariat. A source in the finance department said on condition of anonymity that the current status of the pension scheme will be presented to the finance advisor in the meeting. However, doubts remain as to whether the pension authority will bring up the current plight of the scheme to the adviser at the meeting. Because last month also the information about the scheme was given to the financial advisor in the meeting. But, there is an allegation that all the information of the pension scheme is not presented there.
About the updated information of this scheme, an official said that till October 9, the total number of registered persons in the pension scheme was three lakh 72 thousand 371 people. So far 130 crore 37 lakh 94 thousand taka has been received from them as contribution. This money is invested in government treasury bonds.
He said that before last August 5, 4-5 thousand people used to register in this program every day. Currently, its number has come down to 40-50 people. No more than 5 people on any given day.
According to the data, among the four schemes, the maximum number of people have registered under the scheme meant for people living below the poverty line. Its number is two lakh 85 thousand 884 people. After that, the number of registered protection scheme is 63 thousand 125 people, 22 thousand 332 people are in progress and only 894 people have registered in the designated emigration for foreigners.
Note that the then government launched this scheme on August 17, 2023. It operates through four schemes – Equality, Protection, Progress and Migration. Later ‘Pratya Scheme’ was newly added to the public pension scheme. In this scheme only the officers or employees who join the service of all self-governing, autonomous, state-owned, statutory or homogeneous organizations and their subordinate bodies on or after July 1, 2024, are said to be included in the Universal Pension Management Act. But, later last August, the entire scheme was scrapped.
A press release of the Ministry of Finance was issued on August 2. It said, it is hereby notified that the decision to participate in the universal pension system including assurance scheme in respect of employees of universities, self-governing, autonomous, state-owned, statutory or homogeneous organizations has been cancelled.
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