Govt plans pension scheme for all

The budget for fiscal 2019-20 includes plan for pension for all.

Pension for all employed citizens in both formal and informal sectors will be ensured gradually, says the budget proposal placed at parliament today.

A “Universal Pension Authority” will be formed soon for introducing pension for everyone including all employed citizens, the budget plan also said.

The government is also planning to bring all pensioners under its pension payment process Electronic Fund Transfer (EFT).

Currently, 27,000 pensioners are recipients of EFT pension scheme. By next fiscal, this EFT process will be widened to cover all pensioners.

Source: thedailystar