Loan can be taken from Universal Pension Scheme

Staff Reporter :
Depositors will be able to take loans from the Universal Pension Scheme against their deposited money and the scheme’s money will be protected under any circumstances, said Kabirul Ezdani Khan, Executive Chairman of the National Pension Authority (NPA).

He was speaking at a discussion organized by the Metropolitan Chamber of Commerce and Industry (MCCI) on the Universal Pension 2023 in the capital on Tuesday.

Kabirul said, “The contributor can withdraw up to 50 per cent of the deposited money in the pension fund as a loan if he wishes to meet the medical expenses of himself or his family members, house construction, house repairs or child’s marriage.”

“In this case, the loan fee has to be paid, which will be deducted by the authorities.

This loan has to be repaid in maximum 24 installments and the entire amount will be credited to the depositor,” he added.