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In a significant step to expand the reach of the Universal Pension Scheme, the National Pension Authority (NPA) on Monday signed Memorandums of Understanding (MoUs) with 17 private commercial banks to facilitate registration, contribution collection, and system integration.

According to a press release, the MoUs are intended to streamline processes such as API (Application Programming Interface) integration, allowing for seamless operations between the banks and the NPA’s pension platform.

Speaking as the chief guest at the signing ceremony, Finance Division Secretary Dr. Khairuzzaman Mozumder emphasized the crucial role of private banks in the success of the pension scheme.

“The success of the Universal Pension Scheme largely depends on the sincerity and proactive participation of our banking partners,” he said.
He urged banks to actively promote the initiative and encourage customers to register and contribute, thereby building a more financially secure future for citizens.

The event was held at the Finance Division’s conference room and chaired by Mahiuddin Khan, Executive Chairman of the NPA.

Representatives, including Managing Directors, from the following 17 banks attended the event:

• Bank Asia PLC
• Bangladesh Commerce Bank Ltd
• Bangladesh Development Bank PLC
• BASIC Bank Ltd
• Bengal Commercial Bank PLC
• Dhaka Bank PLC
• EXIM Bank PLC
• Jamuna Bank PLC
• Meghna Bank PLC
• Mercantile Bank PLC
• NRB Bank PLC
• NRBC Bank PLC
• SBAC Bank PLC
• Standard Bank PLC
• Shimanto Bank PLC
• Social Islami Bank PLC
• United Commercial Bank PLC

With these new additions, the total number of banks partnering with the NPA has reached 41. The authority plans to sign similar agreements with all remaining domestic banks to ensure comprehensive coverage.

The Universal Pension Scheme, administered by the NPA, currently includes four distinct programs:

• Probash – for Bangladeshi expatriates
• Progoti – for private-sector employees
• Surakkha – for self-employed individuals
• Samata – for low-income groups

Each subscriber receives a unique pension ID, enabling real-time tracking of contributions and returns through a digital platform.

Beyond post-retirement financial security, the scheme offers additional benefits such as:

• Income tax rebates
• Loan eligibility
• Government co-contributions for poor and underprivileged subscribers

The initiative marks a major milestone in building a more inclusive and sustainable pension system in Bangladesh.