BB asks banks to adopt Universal Pension Scheme

Bangladesh Bank (BB) asked banks to take measures to encourage their officials and employees to adopt the government's Universal Pension Scheme.

The instruction excludes the employees working at government-owned commercial and specialised banks, as per a press release issued on Thursday, reports BSS.

Currently, the employees of government, semi-government or autonomous organisations receive pension benefits from the state.

Launched in August last year, the scheme aims at bringing the growing elderly population of the country under a well-organised social safety net and providing them with a monthly stipend so that they can meet expenses.

All citizens aged between 18 and 50 years, including expatriate Bangladeshis, are eligible.