DHAKA, June 13, 2019 (BSS) – The government is planning to bring all
pensioners under the Electronic Funds Transfer (EFT) system within the fiscal
year 2019-20 (FY20).
This was revealed today in the proposed budget placed in the parliament by
finance minister AHM Mustafa Kamal.
“The process of pension payment through EFT has started to reduce the
hassle of pensioners in getting their pension. System has been introduced so
that pensioners can automatically get their pension in their bank or mobile
account without any physical presence in any accounts office or any bank,”
the finance minister’s budget speech read.
Payment of pension in pensioner’s bank accounts through EFT has already
been made to 27,000 pensioners, the budget speech informed.
As per the budget speech, a ‘Universal Pension Authority’ will be formed
soon for gradual introduction of the universal pension for everyone including
all employed in formal and informal sectors of the economy.
“The government pensioners are only a small fraction of the total
population in the country,” the budget speech read.