Universal Pension (সার্বজনীন পেনশন) is a significant move towards social welfare. Generally, Bangladesh has initiated a Universal Pension Scheme to provide financial support to individuals from various walks of life, including employees, entrepreneurs, self-reliant individuals, the unemployed, and economically disadvantaged citizens. This initiative aims to ensure a dignified life for all, especially those in their advanced years. So in this article, we will discuss about Universal Pension (সার্বজনীন পেনশন), how to register, pension calculation, benefits, upension.gov.bd usage, etc.
Universal Pension Scheme
The scheme offers a minimum monthly pension of 1000 Bangladeshi Taka (BDT) to those who contribute for a minimum of 10 years. By contributing for 15 years at this rate, an individual will be entitled to a pension of 1530 BDT per month. Moreover, contributing a monthly amount of 1000 BDT at an annual interest rate of 20% for 20 years will result in a pension of 4927 BDT per month. This highlights how both the monthly contribution and the number of years of contribution impact the pension amount.
The scheme encompasses four different packages or schemes to accommodate various individuals with diverse financial capacities. Although there are distinct schemes, the monthly pension amount is determined by the monthly contribution and the years of contribution.
Universal Pension Calculation
Here’s a breakdown of the pension amount based on the monthly contribution:
| Years of Monthly Contribution | 1000 BDT | 2000 BDT | 3000 BDT | 5000 BDT | 7500 BDT | 10000 BDT |
|---|---|---|---|---|---|---|
| 42 | 34,465 | 68,931 | 103,396 | 172,327 | 258,491 | 344,655 |
| 40 | 29,200 | 58,400 | 87,601 | 146,001 | 219,001 | 292,002 |
| 35 | 19,187 | 38,374 | 57,561 | 95,935 | 143,902 | 191,870 |
| 30 | 12,466 | 24,932 | 37,398 | 62,330 | 93,495 | 124,660 |
| 25 | 7,955 | 15,910 | 23,864 | 39,774 | 59,661 | 79,548 |
| 20 | 4,927 | 9,854 | 14,780 | 24,634 | 36,951 | 49,268 |
| 15 | 2,894 | 5,789 | 8,683 | 14,472 | 21,708 | 28,944 |
| 10 | 1,530 | 3,060 | 4,591 | 7,651 | 11,477 | 15,302 |
Aim To Start Universal Pension Bangladesh
The Universal Pension Scheme is designed to be flexible and inclusive. It encompasses categories like “Progress,” aimed at private sector employees with varying monthly contributions, and “Security,” tailored for self-employed, unemployed, and economically disadvantaged individuals. Additionally, the “Equity” package targets those with extremely low incomes, providing a modest pension of 1000 BDT per month.
This scheme also considers international migrants, as the “Migration” package offers varying pension amounts in foreign or local currencies. Furthermore, the government provides a 2.5% discount for those who choose to contribute in foreign currency.
It’s important to note that these pension schemes are adaptable to future changes, and they emphasize the significance of monthly contributions and years of dedication, rather than the specific scheme chosen.
UPension upension.gov.bd Apply Online & Registration
Registering for the Universal Pension Scheme through the official website, https://www.upension.gov.bd, is a straightforward process that requires following a few simple steps. Here’s a step-by-step guide on how to register for the Universal Pension Scheme online:
- Visit the Official Website Open your web browser and navigate to the official Universal Pension Scheme website: https://www.upension.gov.bd.
- Choose Your Preferred Language The website may offer language options. Choose your preferred language to proceed with the registration process.
- Create an Account Look for the “Sign Up” or “Register” button on the website’s homepage and click on it. You will be directed to a registration page.
- Fill in Personal Information On the registration page, you will need to provide your personal information, including your full name, date of birth, National ID (NID) number, contact information, and email address.
- Set Up Login Credentials Create a username and password for your online account. Make sure your password is strong and includes a combination of letters, numbers, and special characters to enhance security.
- Verify Your Identity You might be required to verify your identity using your National ID (NID) card. This could involve uploading a scanned copy of your NID card or providing relevant details for verification.
- Choose Your Package Select the pension package that suits your financial capacity and preferences. Different packages offer varying monthly contribution options and corresponding pension benefits.
- Make Your Initial Contribution Once you’ve chosen a package, you will need to make your initial monthly contribution. The website should guide you through the payment process, which might involve using an online payment method or visiting a designated bank branch for payment.
- Confirmation and Acknowledgment After making the initial payment, you should receive a confirmation on the website, as well as an acknowledgment via email or SMS.
- Log into Your Account Now that you’ve successfully registered, you can log into your account using the username and password you created during the registration process.
- Manage Your Account Once logged in, you can manage your account, track your contributions, view your pension amount, and make any necessary updates to your personal information.
Remember that the registration process might slightly vary based on updates to the website or additional requirements set by the authorities. If you encounter any difficulties or have questions during the registration process, the website should provide contact information or customer support details that you can use to seek assistance.
As the Universal Pension Scheme is a valuable investment in your future, ensure that you provide accurate and genuine information during the registration process. This will ensure the seamless processing of your pension benefits when you reach the eligible retirement age.
Universal Pension Form Download
Conclusion
In conclusion, Bangladesh’s Universal Pension Scheme is a comprehensive approach to ensuring financial security for all citizens. With multiple packages catering to different needs, the scheme prioritizes individual contribution and years of dedication to determine the pension amount. By offering flexibility and inclusivity, this initiative reflects the government’s commitment to providing a secure and dignified life for citizens from all walks of life.
