Special Correspondent

Half a million people have joined the much awaited universal pension program (Scheme) through registration so far and the sheme is gaining popularity gradually amid publicity by the administration.

This milestone was reached within 10 and a half months of the launch of the scheme. Through which 100 crore rupees have been deposited in the government fund.

This information was given in a statement of the Ministry of Finance on Wednesday.

Earlier, the number of enrollments in various schemes touched lakhs in nine-and-a-half months.

Gazi Touhidul Islam, Public Relations Officer of the Ministry of Finance told the media that the total number of registrants in the universal pension scheme for immigration, progress, protection and equality is about three and a half lakh and the total amount of deposits is more than Tk 100 crore. It is reported that 92 crore 68 lakh rupees have been invested in government treasury bonds out of the money already deposited.

The government has launched the universal pension system with these four schemes - Pravas Scheme, Pragati Scheme, Suraksha Scheme and Samata Scheme. The response started from the first day of launch, which is continuously on the upward trend.

According to the pension rules, in the universal pension system, the more money is deposited, the more pension will be given at the end of the term. On the other hand, this initiative will not divert the low income people either. For those who will deposit 500 taka monthly, the government will have another subsidy of 500 taka from the beginning. All in all, there is an extra multiple of profit for everyone at the end of the fixed term.

And the contributions earmarked for pension will be treated as investment and will be eligible for tax rebate. In addition, the National Board of Revenue (NBR) has declared the monthly pension as income tax free. On the other hand, in July this year or later, those officers and employees who will join the self-governing, autonomous, state-owned, statutory or homogeneous organizations and their subsidiary organizations, are being made compulsory to join the universal pension scheme. All of them will be included in the 'Prayya' scheme. On March 20, the Ministry of Finance issued a notification in this regard.

In the budget session of the financial year 2022-23, a specific announcement was made to introduce the universal pension system. In continuation of this, the 'Universal Pension Management Act, 2023' was passed by the National Parliament with the aim of launching the Universal Pension Scheme.

Prime Minister Sheikh Hasina inaugurated the much awaited Universal Pension Program (Scheme) on the morning of August 17 of that year.