Universal Pension Scheme lacks transparency:BSPAN
Business Report :
Bangladesh Social Protection Advocacy Network (BSPAN) has criticized the passage of the Universal Pension Scheme 2023 bill without ensuring transparency and necessary consultation with labor activists.
The organization alleged that because of these shortcomings it will be a deposit scheme instead of Universal Pension Scheme.
The BSPAN demanded discussions with the partners immediately before the operation of the government’s initiative.
The organization pointed out the limitations of the pension scheme and put forward a set recommendations through a meet the press at Dhaka Reporters’ Unity in the capital on Friday.
Ripon Chowdhury, Member Secretary of BSPAN, highlighted several limitations of the pension scheme, including confusion about government officers receiving pensions without contributing, the perception of the scheme resembling traditional insurance, lack of provisions for the working class, undefined criteria for low-income individuals, absence of specific directions for informal labor force, and inadequate representation of worker organizations in the governing board.
He also criticized the passage of the bill without consulting labor activists.
He expressed concerns about the requirement for citizens, excluding government employees, to make regular premium payments for at least 10 years, considering the challenges for the working population.
He noted that the scheme’s eligibility cutoff at age 50 excluded a significant number of potential participants aged 51 to 64.
The BSPAN proposed several recommendations, including the removal of conditions for previous social security program participation, representation of civil society and labor organizations on the board, revising the definition of low-income individuals to match current economic conditions, relaxed contribution requirements, equal pension treatment for all employees, increased government contribution, board representation of trade unions, extending the pension scheme’s tenure, specifying invitees for board meetings, and reducing the nominee’s pension tenure if the contributor is indigent.
Nazreen Akhtar Deena, steering committee member, Pulak Ranjan Dhar, Secretary and Asad Uddin, Coordinator of BSPAN, spoke at the programme.
