Enrollment in universal pension scheme hits a standstill
In January, 240 people enrolled nationwide, contributing Tk5.90 lakh, while February saw 148 enrollments with Tk3.21 lakh.
Highlights:
- Over 3 lakh people enrolled in the first 10 months
- 38,034 people enrolled in the last 20 months
- Only 148 people enrolled in February
- Total deposits stands Tk242 crore so far
- The scheme was launched in August 2023
Enrollment in the Universal Pension Scheme, launched to provide sustainable social protection for Bangladesh's elderly population, has slowed significantly.
In the first 10 months, over 3 lakh people joined, while only 38,034 enrolled in the following 20 months. Analysis by the National Pension Authority shows an average of around 150 new enrollments per month recently.
Launched on 17 August 2023 by the then Awami League government, the scheme was designed to secure financial stability for citizens outside government employment.
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By 30 June 2024, 3,38,931 people had enrolled under the four schemes, depositing a total of Tk99.42 crore. Surpassing 3 lakh enrollments within 10 months was considered a major win at the time. By 28 February 2026, total enrollment reached 3,76,965, with deposits across schemes hitting Tk242 crore.
In January, 240 people enrolled nationwide, contributing Tk5.90 lakh, while February saw 148 enrollments with Tk3.21 lakh.
Officials say the slowdown boils down to limited public awareness, trust issues, irregular incomes, and procedural hurdles. Following political changes and the ouster of the Awami League government, many citizens are still in doubt about the scheme's benefits, returns, and long-term framework.
Strongest Interest in the Samata Scheme
The Samata scheme, aimed at very poor and low-income citizens earning less than Tk60,000 annually, continues to draw the lion's share of enrollees, making up nearly three-quarters of the total.
Members contribute Tk500 per month, which the government matches with an equal amount, giving a total monthly contribution of Tk1,000. Registrations in this scheme have reached nearly 2.95 lakh, providing low-income citizens with a solid financial footing.
By contrast, participation in the Probashi scheme for expatriate Bangladeshis remains limited, with contributions paid in foreign currency at options ranging from Tk2,000 to Tk10,000.
The Progoti scheme, targeting private- or non-government employees, allows institutional contributions split evenly between employer and employee or individual contributions, with options between Tk2,000 and Tk10,000, but enrollment is modest.
Similarly, the Surakkha scheme for self-employed individuals, including farmers, labourers, and rickshaw pullers, with contribution options from Tk1,000 to Tk5,000, has attracted comparatively few participants.
Reasons for declining enrollment
Experts highlight the scheme's potential to provide a stable income and strengthen social safety nets amid the country's rapidly ageing population.
Selim Raihan, executive director of the South Asian Network on Economic Modelling (Sanem), said small savings through the scheme can reduce poverty, enhance social safety nets, and improve the quality of life for the elderly.
However, he noted that limited awareness, trust issues, and income irregularities have slowed enrollment. Raising awareness, simplifying registration, and rebuilding trust are essential to revive interest.
Fahmida Khatun, executive director of the Centre for Policy Dialogue (CPD), voiced similar concerns when she spoke to TBS. She said the programme is not gaining popularity because of a lack of public trust in the government's system.
Fahmida, however, emphasised that such a programme is necessary for Bangladesh, since most people in the country are outside the pension system and therefore face various problems in old age. She added that the government must build trust to make the universal pension programme attractive to everyone.
To boost enrollment, the National Pension Authority has partnered with banks and mobile financial services and simplified registration through Union Digital Centres. Nationwide pension fairs and awareness campaigns are also planned to encourage citizens to join and secure long-term financial stability.
