Steps to provide pension for all the citizens of the country over 60

Steps to provide a pension for all the citizens of the country over 60. Prime Minister Sheikh Hasina has directed the concerned officials to take necessary steps to arrange pension for all the citizens above 60 of the country. In his budget speech for 2016-17, the then Finance Minister Abul Maal Abdul Muhith had expressed the government’s concern to bring the government as well as the private sector under pension. He also hinted at a “radical change” in the pension system considering the risk of the elderly becoming financially and socially insecure.

Explaining the reason for the idea of giving pensions to the elderly, Abul Maal Abdul Muhith said that only 5 percent of the working population of the country is employed in government jobs, they get the pension benefits. Out of the remaining 95 percent, about 8 percent got gratuity benefits, but there is no such facility for others.

Abdul Muhith also said at the time that as the number of elderly people is increasing due to the increase in the average life expectancy of people, on the contrary, urbanization also increases the risk of making the elderly financially and socially insecure. So the introduction of a universal pension system in financial security in the last life of the elderly is now the ‘need of the hour’.

Imrul Kayes said Prime Minister Sheikh Hasina observed a presentation on ‘Introduction of universal pension system’ by the Finance Department at Ganabhaban in the morning. At this time, according to the last election manifesto of the Awami League, the Prime Minister was directed to formulate a universal pension scheme for the people of all types of informal sectors, including public and private, and establish authority.

On the occasion, Finance Minister AHM Mustafa Kamal, Planning Minister M A Mannan, Principal Secretary to the Prime Minister Dr. Ahmad Kaikaus, Senior Secretary, Department of Finance Abdur Rauf Talukdar, Senior Secretary in the Prime Minister’s Office Md. Tofazzal Hossain Mia, Secretary, Department of Economic Relations Fatima Yasmin and Planning Department Secretary Pradeep Ranjan Chakraborty and other senior officials were present.