A discussion meeting on the Universal Pension Scheme was held today, Saturday, 5 September 2026, with the participation of members of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and relevant stakeholders of the apparel sector. The meeting was held at 11:00 am at the Noorul Quader Auditorium of the BGMEA Complex in Dhaka.

BGMEA President Mahmud Hasan Khan attended the meeting as the chief guest. Member of the National Pension Authority under the Finance Division of the Ministry of Finance Sheikh Kamrul Hasan; BGMEA Senior Vice President Inamul Haq Khan (Bablu); and Vice President Md. Rezwan Selim spoke as special guests. The meeting was chaired by Executive Chairman of the National Pension Authority Dr. Md. Suratuzzaman. 

In his welcome remarks, Member of the National Pension Authority Sheikh Kamrul Hasan said that the government introduced the Universal Pension Scheme to ensure financial and social security for citizens in their old age, as Bangladesh previously lacked adequate financial security arrangements for the elderly compared to developed countries.

In his keynote presentation, Executive Chairman of the National Pension Authority Dr. Md. Suratuzzaman said that the government introduced the Universal Pension Scheme to ensure the future financial security of the people, which would serve as an important means of financial protection for citizens in their old age. He said citizens aged between 18 and 50 can contribute to the scheme through banks and receive their accumulated contributions as a pension after reaching the age of 60.

He explained that if a subscriber dies before reaching the age of 60, the nominee will receive the deposited amount along with the applicable profit. He also said that subscribers facing income-related difficulties in making regular contributions will have the flexibility to increase or decrease their contribution amounts.

Dr. Suratuzzaman further said that the money deposited under the scheme would be returned to the subscribers in due time, helping ensure a better quality of life after the age of 60. He informed that the government has already decided to invest approximately US$100 million, financed by the Asian Development Bank (ADB), to further strengthen and accelerate the implementation of the pension scheme.

He also noted that the latest amendment to the Bangladesh Labour Act 2026 requires industrial establishments employing more than 100 workers to bring their workers under the Universal Pension Scheme. He urged such establishments to take initiatives to open accounts for their employees under the scheme.

Calling upon BGMEA to play a leading role in bringing entrepreneurs and workers in the apparel sector under the scheme, he said that initiatives should be taken to ensure that at least one member of every family is covered by the Universal Pension Scheme. He added that the present government, recognizing the importance of the scheme, has included the formation of a pension fund in its Election Manifesto 2026 and is working towards its implementation.

In his address as the chief guest, BGMEA President Mahmud Hasan Khan said that the present government is fully committed to ensuring the overall welfare, social security and financial security of the people. In this regard, he stressed the need to take immediate initiatives to bring all apparel sector workers under the Universal Pension Scheme, which would play a historic role in fulfilling the government’s electoral commitments and establishing a Bangladesh free from discrimination.

He further suggested that special government incentives could be provided during the first two years to make the scheme more attractive and popular among workers. He also proposed reducing the pension eligibility age for garment workers from 60 to 55 years. He said these reforms would encourage workers to join the scheme voluntarily and enthusiastically.

BGMEA Senior Vice President Inamul Haq Khan (Bablu) said that bringing approximately 5 million workers in the RMG sector under the Universal Pension Scheme and ensuring its continued management would be somewhat challenging. However, despite the challenges, he termed the government’s initiative to introduce the scheme timely, groundbreaking and commendable.

BGMEA Vice President Md. Rezwan Selim said that considering the attractive rate of return offered by the Universal Pension Scheme, it could play a unique role in ensuring the long-term financial security of workers. He said BGMEA would work with a specific plan to bring all apparel sector workers under this groundbreaking scheme.

During the meeting, participants raised various questions and concerns regarding the scheme. The Executive Chairman of the National Pension Authority provided detailed explanations and reassured them.

The speakers said that the government has undertaken the initiative with the objective of bringing people from all sections of society under an organized social security framework. They emphasized that the participation of a major employment-generating sector like the apparel industry would be particularly important in achieving this goal.

BGMEA members, apparel factory owners, company officials, worker representatives and other relevant stakeholders attended the meeting.