Nagad Offers Cashback and Profit Incentives for Universal Pension Scheme’s Instalment Payments
Prime Minister Sheikh Hasina inaugurated the long-awaited “Universal Pension Scheme” virtually from her official residence at Ganabhaban on Thursday.
Nagad introduces an enticing cashback with profit incentive for prospective pensioners participating in the newly launched Universal Pension Scheme by the government.
Aspiring pensioners who deposit instalments through the Nagad wallet under the scheme during the remaining months of this year will be eligible for cashback with profit, as stated in a press release on Thursday (August 17). This cashback will be accessible at the beginning of the subsequent year.
The Prime Minister’s initiative aims to establish a sustainable financial security system for the growing elderly population in the country.
In collaboration with the government, Nagad, a provider of financial services, will actively promote the Universal Pension Scheme, as indicated in the press release.
Tanvir A Mishuk, the Founder and Managing Director of Nagad Limited, stated, “Our efforts are aligned with the vision of building a Smart Bangladesh. This noble initiative by the government toward securing people’s financial future aligns perfectly with our commitment to supporting various government welfare programs.
To encourage participation in this initiative and ensure people’s retirement security, we have chosen to reward our customers with cashback on pension instalments deposited through Nagad.”
How to Make Subscription Payments via Nagad
According to the press statement, Nagad has streamlined the process of instantly paying instalments for the pension scheme from the comfort of one’s home.
To become a part of the universal pension scheme, individuals need to complete the registration process. Once enrolled, a unique identification number will be provided, facilitating all necessary procedures, including subscription payments.
Customers are required to visit the website at https://www.upension.gov.bd/Public/Packages, locate the subscription payment options, choose the mobile banking tab, and select Nagad for making their monthly contributions.
Pension Scheme Packages
The government has introduced four primary packages under the pension scheme: “Progoti” for private sector employees, “Shurokkha” for self-employed and informal sector workers, “Probash” for expatriate Bangladeshis, and “Samata” for individuals facing financial difficulties.
All citizens aged between 18 and 50 are eligible to enroll in the universal pension scheme. Participants are required to contribute instalments until the age of 60, after which they will start receiving monthly pension benefits until their demise.
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The monthly subscription for the “Progoti” and “Shurokkha” packages ranges from Tk1,000 to Tk5,000, while the “Probash” package offers instalment options from Tk5,000 to Tk10,000 per month. The “Samata” package involves a monthly instalment of Tk1,000.
