Leaders of the country's apparel sector have demanded that the pension age for garment workers be fixed at 55 instead of 60 and that a special incentive be provided during the first two years to make the Universal Pension Scheme attractive and popular among workers.
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) on Saturday made the proposals at a meeting titled "Discussion Meeting on Universal Pension Scheme" held at the Nurul Quader Auditorium at its complex in Uttara, Dhaka.
Speaking on the occasion, BGMEA President Mahmud Hasan Khan said that the proposed structural modifications would encourage spontaneous participation among workers, supporting the government's 2026 election manifesto commitments to building an equitable society.
Highlighting the regulatory landscape, Dr Md Suratuzzaman, Executive Chairman of the National Pension Authority, revealed that the latest amendment to the Bangladesh Labour Act 2026 makes it mandatory for all industrial establishments with more than 100 workers to bring their employees under the Universal Pension Scheme.
He called on BGMEA to ensure that at least one member from every worker's family is enrolled.
The government has decided to invest nearly US$100 million, funded by the Asian Development Bank (ADB), to strengthen and streamline pension operations, he noted.
Under the scheme, citizens aged 18 to 50 can contribute through banks and receive a monthly pension upon reaching 60.
Nominees will receive the deposited amount with returns if a subscriber dies before turning 60 and contribution amounts remain flexible in case of financial distress.
Acknowledging the operational scale, BGMEA Senior Vice-President Inamul Haq Khan stated that bringing nearly 5.0 million RMG workers under the scheme and managing it continuously presents practical challenges, yet praised it as a timely and landmark initiative.
BGMEA Vice-President Md Reazwan Selim emphasised that the scheme's attractive rate of return will ensure long-term financial security for workers, confirming that BGMEA is formulating a specific plan for full implementation.
Chaired by Dr Md Suratuzzaman, the meeting was attended by Sheikh Kamrul Hasan, member of the National Pension Authority, alongside BGMEA office bearers, factory owners, trade union representatives and sector stakeholders.
