DHAKA, Sept 5, 2026 (BSS)- A discussion meeting on the Universal Pension 
Scheme (UPS) was held today with the participation of members of the 
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and 
stakeholders of the apparel sector.

The meeting was organised at the Nurul Quader Auditorium of the BGMEA Complex 
in the capital, said a press release.

BGMEA President Mahmud Hasan Khan attended the meeting as the chief guest 
while Member of the National Pension Authority (NPA) under the Finance 
Division of the Ministry of Finance Sheikh Kamrul Hasan, BGMEA Senior Vice 
President Enamul Haque Khan and Vice President Md Rejwan Selim spoke as 
special guests. 

NPA Executive Chairman Dr Md Suratujjaman chaired the meeting.

In his welcome address, Sheikh Kamrul Hasan said the government introduced 
the Universal Pension Scheme to ensure financial and social security for 
people in old age, considering the country's social and economic 
circumstances.

Presenting the keynote paper, NPA Executive Chairman Dr Md Suratujjaman said 
the government introduced the universal pension system to ensure the future 
financial security of the people, which would become a major source 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 will receive their accumulated contributions as pension after 
attaining the age of 60.

"If a subscriber dies before reaching 60, the nominee will receive the 
deposited amount along with profits," he said, adding that subscribers facing 
income-related difficulties would have the flexibility to increase or 
decrease their contribution.

He said the money deposited under the scheme would be returned to the 
subscribers in due course, helping ensure a better standard of living after 
the age of 60.

Dr Suratujjaman said the government has already decided to invest around 
US$100 million with financing from the Asian Development Bank (ADB) to make 
the pension scheme more dynamic and stronger.

He also pointed out that the latest amendment to the Bangladesh Labour Act 
2026 makes it mandatory for workers of industrial establishments employing 
more than 100 workers to be brought under the Universal Pension Scheme.

The NPA Executive Chairman urged such industrial establishments to take 
initiatives to open accounts under the universal pension scheme for their 
employees.

Calling upon BGMEA to play a leading role in bringing entrepreneurs and 
workers of the apparel industry under the scheme, he said initiatives should 
be taken to bring at least one member from every family under the universal 
pension system.

The government, recognising the importance of the Universal Pension Scheme, 
had included the formation of a pension fund in its 2026 election manifesto 
and was working towards its implementation, Dr Suratujjaman added.

Speaking as the chief guest, BGMEA President Mahmud Hasan Khan said the 
government is fully committed to ensuring the overall welfare as well as 
social and financial security of the people.

"An initiative should be taken to include all apparel sector workers in the 
Universal Pension Scheme as soon as possible," he said, adding that it would 
play a historic role in implementing the government's electoral pledge and 
establishing a discrimination-free Bangladesh.

To make the scheme more popular and attractive among workers, he proposed 
providing special government incentives during the first two years and 
reducing the pension age for garment workers from 60 to 55 years.

"If these reforms are implemented, workers will be more interested in joining 
the scheme voluntarily," he said.

BGMEA Senior Vice President Enamul Haque Khan said bringing around five 
million workers of the ready-made garment sector under the Universal Pension 
Scheme and maintaining its management on a continuous basis would be somewhat 
challenging.

"Despite the challenges, the government's initiative to introduce the scheme 
is very timely, groundbreaking and commendable," he said.

BGMEA Vice President Md Rejwan Selim said the attractive rate of return under 
the Universal Pension Scheme could play a unique role in ensuring long-term 
protection for garment workers.

"Therefore, BGMEA will work with a specific plan to bring all workers in the 
apparel sector under this groundbreaking scheme," he added.

During the meeting, participants raised various questions and concerns 
regarding the scheme. The NPA executive chairman responded to their queries 
with detailed explanations and reassured them.

The speakers said the government had undertaken the programme to bring people 
from all sections of society under an organised social security framework, 
while the participation of a large employment-generating sector like the 
apparel industry would be particularly important.

BGMEA members, garment factory owners, officials, workers' representatives 
and other relevant stakeholders attended the meeting.