New govt service holders to come under Universal Pension Scheme

The government employees will be incorporated in the Universal Pension Scheme from July 1 next year.

Finance Minister Abul Hassan Mahmood Ali announced this during his budget speech in the Jatiaya Sangsad on Thursday.

“The fresh recruits of autonomous and state-owned institutions have already been brought under this system. Soon, we will introduce this system from July 1, 2025 for the new recruits of other government institutions,” said the finance minister.

He claimed that it will be one of the most attractive pension schemes in the world as the government bears the fund management costs and the investment profits are among the depositors.