BB Directs Non-Bank Financial Institutions To Join National Pension Scheme

Bangladesh Bank Directs Employees of Non-Bank Financial Institutions to Participate in the National Pension Scheme.

On Monday (February 8th), Bangladesh Bank's Financial Institutions and Market Division sent directives to all non-bank financial institutions' Chief Executives in this regard.

Earlier, on February 8th, the Banking Regulation and Policy Department had sent instructions to all bank Chief Executives.

In 2023, the government formulated the Public Pension Scheme Act, and the Public Pension Scheme Regulations 2023, to include all citizens, especially the elderly, within the scope of the Secure and Organized Social Protection Plan.

Under the Public Pension Scheme, employees of non-governmental institutions, owners of those institutions, individuals working or employed informally, and individuals with modest incomes below the poverty line are eligible to participate. Foreign nationals working or residing anywhere in the world are also eligible to participate if they are Bangladeshi citizens.

According to the directive of the central bank, to ensure the participation of employees of non-bank financial institutions in the public pension scheme to achieve a secure and organized social protection plan for all citizens, necessary measures have been directed to be taken.