Pvt sector staff to get 30pc gratuity on retirement

Private sector employees will receive 30 percent gratuity or gratuity benefits based on total accumulated retirement funds under the Universal Pension Scheme, according to the proposed FY2026-27 national budget.

The announcement was made by Finance Minister Amir Khasru Mahmud Chowdhury in his budget speech on Thursday, as part of the government’s expanded social security initiatives.

Officials said the move aims to strengthen retirement benefits and expand financial protection for private sector workers under the government’s Universal Pension Fund system.

The government has proposed a total allocation of Tk1,44,338 crore for the social security sector in FY2026-27, up from Tk1,26,731 crore in the revised budget of the previous fiscal year.

According to budget documents, 3,77,930 people have registered under the four schemes of the Universal Pension System since its launch in 2023, as of May 30. The total deposit in the fund stands at around Tk260 crore, while total investment has reached Tk286 crore.

The Universal Pension Scheme is part of broader efforts to expand social protection coverage and ensure retirement security for workers outside the formal government sector.