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Universal Pension Scheme: Learn 4 Schemes Details

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Bangladesh Makes Historic Entry into Universal Pension Scheme Era

Bangladesh has taken a significant step forward by introducing the eagerly anticipated Universal Pension Scheme (UPS), marking a milestone in the country’s history. This transformative initiative aims to provide a standardized pension system for the entire population aged above 18, ensuring lifelong pension benefits once they reach the age of 60.

The (Universal Pension Scheme) UPS has unveiled four out of six initial pension schemes, namely Pragati, Surokkha, Samata, and Prabashi, with plans to introduce the remaining two schemes in the near future. Individuals within the age group of 18-50 are eligible to enroll in the UPS.

Those aged 50 and above can also participate, with the option to receive a pension after contributing installments for a minimum of 10 years.

To become a part of the UPS, prospective participants need to register using their national identity (NID) cards. Upon registration, a unique identification number will be provided, facilitating installment payments and other procedural aspects. The convenience of paying monthly installments from home through mobile financial services has been made possible through a dedicated app developed by the relevant authorities.

Migrant workers, without NID cards, can join the scheme using valid passports. Each beneficiary will have an account opened for them at the state-owned Sonali Bank to facilitate the deposit of monthly installments.

Now, let’s delve into the specifics of the four available Universal Pension Scheme:

  • Pragati Scheme: This scheme is designed for private sector employees who can participate by making monthly installment deposits of Tk2,000, Tk3,000, or Tk5,000. While employees contribute half the installments, their employers cover the rest. Individuals can also join the scheme independently if their employers choose not to participate. For example, if a participant starts at 18 and contributes Tk2,000 per month for 42 years, they will receive Tk68,931 monthly upon reaching 60.
Universal Pension Scheme
Universal Pension Scheme Progoti
  • Surokkha Scheme: Tailored for self-employed and informal sector workers, including farmers, rickshaw pullers, and day laborers, this scheme offers flexibility. Participants contributing Tk1,000 per month can receive Tk34,465 as a monthly pension. Meanwhile, those contributing Tk2,000 per month can withdraw Tk68,931 monthly.

    Universal Pension Scheme
    Universal Pension Scheme Surokkha
  • Samata Scheme: Under this scheme, the monthly installment is set at Tk1,000, with the government covering Tk500. Individuals living below the extreme poverty line are eligible to participate. A person starting at 18 and providing a Tk500 monthly installment will receive Tk34,465 per month. Moreover, individuals aged 50 and above can get Tk1,530 per month after contributing Tk500 in installments.
Universal Pension Scheme
Universal Pension Scheme Somota
  • Prabashi Scheme: Designed for migrant workers, this scheme offers installment options of Tk5,000, Tk7,500, and Tk10,000 per month. Migrant workers who return to the country before turning 60 can pay the amount in local currency or convert the scheme. For instance, an 18-year-old migrant worker contributing Tk10,000 per month can withdraw Tk3,44,655 per month after 60 years till the age of 75.
Universal Pension Scheme
Universal Pension Scheme

The introduction of the much-anticipated Universal Pension Scheme by the government is a momentous occasion. The scheme aims to encompass all citizens aged 18 and above, fostering a robust social safety net that provides monthly stipends to support their daily expenses.

Expatriate Bangladeshis can also join the scheme by depositing the specified amount in foreign currency.

To participate, Bangladeshi citizens need to register online through the National Pension Authority’s website: A unique ID number will be issued upon registration. Expatriate Bangladeshis without national identity cards can use passport information for registration.

The introduction of standardized pension schemes, including Pragati, Surokkha, Samata, and Prabashi, ensures inclusivity across various sectors of society. Monthly installments can be deposited through mobile financial services, online banking, or credit/debit cards. Beneficiaries can take advantage of a loan option for various purposes, repayable in 24 installments.

The pensions received through the scheme continue until the pensioner’s death. In the unfortunate event of a pensioner’s demise before the age of 75, the nominee will continue to receive the pension until the original depositor would have reached 75 years of age. The Universal Pension Scheme not only provides financial security to citizens but also paves the way for a more stable and prosperous future for all.


Which Bank is responsible for opening the Universal Pension Scheme?

Ans: Now only Sonali Bank is responsible for the opening of Universal Pension Scheme account. You can directly go to Sonali Bank Branch and open a Universal Pension Scheme account, and deposit money into the Pension scheme in Bangladesh.

Is there an official website for the Universal Pension Scheme?

Yes. That is