Interest of the people, mostly low income group, continues to grow for the enrolment in the government-sponsored universal pension scheme.
About two lakh people have so far been enrolled in nine months in the universal pension scheme, launched with an aim to bring people from all walks of life under a sustainable social safety net structure.
Though the much-hyped scheme has not got enough response at the beginning, the people are getting interested gradually, officials say.
Record shows that some 90,000 people registered their names in 16 days of May while about one lakh people enrolled in last April alone in different schemes. But the enrolment of expatriates is still not satisfactory.
Sources at the ministry say that about 700 expatriates have so far enrolled under the Probash scheme.
Asked about the poor response, they say that the government is trying to draw the attention of the expatriates and the number of the participation will be increased with the time.
Record shows that the expatriates have so far donated about Tk 3.05 crore which is about 5.83 per cent of the total deposit.
National Pension Scheme member Golam Mostafa told the Bangladesh Post that some 191,359 people registered their names under the four schemes till May 16.
Of the participants, the highest number of people are from the
low-income group. As many as 124,151 people, who earn less than Tk 60,000 per year, joined the scheme under the Samata Package.
Out of six schemes, the government on August 17 last year rolled out four pension schemes --- Progoti, Surokkha, Somota and Probash--- to bring all the people aged above 18 under the facility. The rest of the two schemes will be introduced later.
The process of enrolment started since launching of the programme on August 17 last year.
Sources at the Finance Ministry say that over Tk 65 crore has been deposited so far.
Asked about the total deposit, Golam Mostafa said that Tk 66 crore 65 lakh 89 thousand has so far been deposited to the exchequer.
“We have already invested Tk 41 crore in treasury bonds. The rest of the amount will also be invested in treasury bond by next week,” he said.
When asked whether the authorities concerned has formulated any investment policy, he said it is under process.
“We hope that the investment policy will be finalised very soon,” he added.
The authorities concerned say that the population is increasing because of the rise in the life expectancy and the universal pension scheme will ensure their social security.
Any Bangladeshi citizen aged between 18 and 50 can take part in the scheme and the national identity card is mandatory for being part of the scheme.
The provision is relaxed for the expatriates who participate in it through passports. But, they need to submit their ID cards within the quickest possible time.
Apart from this, people who are aged above 50, will also be able to participate in the scheme on special consideration. In that case, they will get the benefit after depositing instalments for 10 years.
The Probash scheme is launched for the expatriate Bangladeshis and the monthly instalment has been at Tk 5,000, Tk 7,500 and Tk 10,000 respectively.
If anyone wants to pay the amount through the currency where he lives or he/she can pay it through Bangladeshi currency.
The progoti Scheme has been designed for the employees of the private-run companies. Anyone interested can take part in the scheme by paying monthly instalment under three categories---Tk 2,000, Tk 3,000 or Tk 5,000.
Meanwhile, any organisation and owner of the company can take part in the scheme. In that case, the company will bear the half instalment and the rest will be borne by the company.
The Surokkha Scheme is for individuals who are not working under any organisations. But they are earning. Freelancers, farmers and labourers belong to that group. The monthly instalment of the scheme is at Tk 1,000, Tk 2,000, Tk 3,000 and Tk 5,000.
The monthly instalment in the Samata Scheme has been fixed at Tk 1000. The interested individual will pay Tk 500 and the rest of the amount will be paid by the government. The government has designed the scheme for the low-income group people who earn Tk 60,000 per year.
As per the universal pension scheme policy, the pensioners may enjoy the pension benefit till the death. But, if anyone passes away before the age of 75, then his/her nominee will enjoy the benefit till the age of 75.
And if any pensioner passes away before paying the instalment for 10 years, then the nominee will be given back the deposited money with interest. There is an opportunity for the pensioners to withdraw the deposited money at the time of his/her need. In that case, the pensioner can take 50 per cent of the total deposit as loan.
The monthly instalment will be considered as investment and the amount will get the tax rebate. And the monthly pension will be a tax-free.
