ICMAB holds a Seminar on the “Universal Pension Scheme”

The Institute of Cost and Management Accountants of Bangladesh (ICMAB) organized a Seminar on “Universal Pension Scheme” on September 17, 2023 at 7.00 p.m. at its ICMAB Ruhul Quddus Auditorium, ICMA Bhaban, Nilkhet, Dhaka.

Mr. Md. Golam Mostofa, Additional Secretary, Ministry of Finance and Member, Universal Pension Authority, Government of the People’s Republic of Bangladesh, graced the occasion as the Chief Guest.

Mr. Monir Hossain Chowdhury, Joint Secretary, Ministry of Finance, Government of the People’s Republic of Bangladesh presented the Keynote Paper on the Universal Pension Scheme. In his well-articulated presentation, Mr. Chowdhury demonstrated the new venture taken by the Government in detail. He also depicted the features of the Universal Pension Scheme and illustrated the four types of schemes, i.e., Probash, Progati, Shurokhya, and Somota. Using a diagram, he showed the minimum and maximum monthly pension the holder would receive under these four streams of the Universal Pension Scheme.

The President of ICMAB, Mr. Md. Abdur Rahman Khan FCMA, in his presidential speech, said that Bangladesh has proved in its long 50 years journey that it is not a bottomless basket anymore which is not dependent on foreign aid anymore; her economy has been growing rapidly. All these have been possible because the 17-crore people continuously work from behind. We are now dreaming of a developed country by 2041 and reaching an economy of Trillion dollars. He added that the Government now, like various social safety allowances, has taken an all-inclusive social protection program, the Universal Pension Scheme. As a professional Institution, it is the responsibility of ICMAB to help the Government as much as possible by informing the people about the scheme properly so that the country’s people may benefit from the scheme.

Mr. Md Golam Mostofa, Additional Secretary, Ministry of Finance and Member, Universal Pension Authority, Government of the People’s Republic of Bangladesh, said in his speech that the Universal Pension Scheme is the time-demanded decision of the present Government. People are very excited and interested in this scheme. It is a matter of pride that we are the pioneer of this kind of program in this region. Even our neighboring country has yet to take this kind of all-inclusive venture. He added that we have targeted all to include, and no one is left excluded in this scheme.  No administrative overhead cost will be charged to the pensioners. The Government will bear all the operating costs of the National Pension Authority. The scheme is a foolproof and secure system. So, the subscription paid to this scheme is fully secured as the Government is the guarantor of it. There should be no doubt or any wrong conception about it as the scheme has been established by an Act of the Parliament. He also stated that the Universal Pension Scheme is for the betterment of the people and will grow with its inherent strength.

Mr. Md. Maksudur Rahman FCMA, CEO of EDISON Logistics Ltd. and the Chairman of the Professional Diversity – Supply Chain Committee of ICMAB delivered the welcome speech while the Secretary of the Institute Mr. Md. Kausar Alam FCMA offered a vote of thanks.

 A good number of ICMA members attended the program in person and virtually from home and abroad.