People can now directly register for the much-sought-after “Universal Pension Scheme” and pay subscriptions in the comfort of their homes using Nagad, the country’s popular mobile financial service provider.

To this end, a memorandum of understanding (MoU) was signed between Nagad Ltd. and the National Pension Authority recently at a five-star hotel.

Following this agreement, 8.5 crore Nagad customers will be able to register for their preferred pension schemes directly through Nagad and deposit regular instalments. This will pave the way for all citizens aged above 18 to choose pension schemes with a few taps on their Nagad app without facing any hassle – thus ensuring their future financial security.

Executive Director of Nagad Ltd. Mohammad Aminul Haque and Executive Chairman of National Pension Authority Kabirul Ezdani Khan signed the MoU on behalf of their respective sides.

Secretary to Finance Division Dr Md Khairuzzaman Mozumder, Director General of Directorate of Posts Tarun Kanti Sikdar, Nagad’s Chief External Affairs Officer Sheikh Shabab Ahmed, Head of Business Sales Mohammad Mahbub Sobhan, and Head of Commercial Affairs Md. Ziaul Pervez Chowdhury were also present at the signing ceremony.

Executive Chairman of National Pension Authority Kabirul Ezdani Khan at the event said, “The purpose of this MoU is to facilitate our users to pay pension subscriptions easily. When it comes to bringing people under pension schemes, we aim to bring Nagad into the first tier. As both Nagad and the Universal Pension Scheme have universal acceptance to people, they can easily go-ahead hand in hand to ensure social security. That is why we are giving utmost importance to Nagad, and we want to see it as a service provider.”

Secretary to Finance Division Dr Md Khairuzzaman Mozumder said, “I hope that this agreement with Nagad will accelerate the National Pension Authority’s activities. We also request Nagad to work earnestly towards bringing its 8.5 crore customers under the pension scheme and reduce the cost as well.”

Executive Director of Nagad Ltd. Mohammad Aminul Haque said, “We believe that the customer base for the pension scheme will exceed billions the same as Nagad’s, and we will celebrate it together. Moreover, charges for payments in the pension scheme will be reduced.”

The government rolled out the Universal Pension Scheme under the National Pension Authority this year for all citizens aged above 18 excluding government employees. On 17 August 2023, Honourable Prime Minister Sheikh Hasina inaugurated the much-awaited pension scheme meant for the private sector. The pension scheme already got a huge response according to the National Pension Authority.

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