BDBL Launches Universal Pension Scheme Subscription Services
State-owned Bangladesh Development Bank PLC (BDBL) today officially launched subscription collection services for the country's Universal Pension Scheme, aiming to expand social security coverage among the wider population. The services were inaugurated by Dr. Md. Suratuzzaman, Executive Chairman of the National Pension Authority, as the chief guest at a ceremony held at the bank's board room in the city, said a press release. Officials from BDBL branches across the country joined the event virtually through the Zoom platform.
The launch follows a memorandum of understanding (MoU) signed between BDBL and the National Pension Authority on July 14, 2025. To facilitate the service, the bank opened a special SND account at its Principal Branch and integrated its Core Banking System (CBS) with the authority's software platform. Speaking at the function, Dr. Suratuzzaman underscored the growing importance of a comprehensive pension system in the face of changing demographic trends.
Referring to data from the United Nations Population Fund, he said life expectancy in Bangladesh is projected to increase from the current 73 years to 84.3 years by 2075, while the elderly dependency ratio is expected to rise sharply from 8.6 percent in 2022 to 48 percent by 2075. He said the Universal Pension Scheme is designed to provide social security to the country's 77.4 million labour force, around 85 percent of whom are engaged in the informal sector and remain outside formal pension and provident fund coverage.
The government aims to bring at least one member from each of the country's 40 million families under the scheme by 2030. Currently, the Universal Pension Scheme offers four packages: Probash for expatriate Bangladeshis, Progati for private-sector employees, Surokkha for self-employed and informal-sector workers, and Somota for low-income citizens. Monthly contributions range from Tk 1,000 to Tk 15,000, with pension benefits determined by the amount and duration of contributions.
The programme has also attracted international support. The Asian Development Bank has pledged a soft loan of US$100 million to strengthen universal pension activities, and a feasibility study is currently underway. Officials said future plans include introducing Shariah-compliant versions of all pension packages to better serve the country's Muslim-majority population, as well as considering lifelong pension benefits for nominees. These initiatives are in line with the government's 2026 election manifesto commitment to establishing pension funds for private-sector workers.
BDBL Managing Director and CEO Md. Jasim Uddin said the bank's involvement in the Universal Pension Scheme would add a new dimension to the country's socio-economic development. Following the inauguration, a special training programme was held for BDBL officials on customer registration, subscription collection and the operation of the integrated CBS software. Citizens can obtain further information and register for the scheme through the official website, (Universal Pension Scheme Portal) (https://www.upension.gov.bd?utm_source=chatgpt.com), or by visiting any BDBL branch.
