The Bangladesh Garment Manufacturers and Exporters Association, the trade body representing the country's powerful garments sector, has suggested providing special government incentives for the first two years and setting the pension age limit, when a worker is eligible to cash in on his or her contributions, for RMG workers at 55, instead of 60.
BGMEA President Mahmud Hasan Khan made the demand at a discussion on the Universal Pension Scheme was held on Saturday (September 5) at the Nurul Quader Auditorium of BGMEA Complex in Uttara, Dhaka, bringing together members and relevant stakeholders of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).
Dr. Md. Suratuzzaman, Executive Chairman of the National Pension Authority, presided over the event.
The BGMEA president said that to make the scheme more attractive and popular among garment workers, he suggested providing special government incentives for the first two years.
Sheikh Kamrul Hasan, Member of the National Pension Authority under the Finance Division of the Ministry of Finance, BGMEA Senior Vice President Inamul Haq Khan, and Vice President Md. Reazwan Selim spoke as special guests.
In a keynote presentation, Dr. Md. Suratuzzaman said the government introduced the Universal Pension Scheme to ensure the future financial security of citizens, offering a vital safety net in old age. Citizens aged 18 to 50 can deposit contributions through banks and will receive pension returns upon reaching 60 years of age.
If a subscriber dies before turning 60, their nominee will receive the deposited funds along with accrued profits. Provisions have also been made to adjust contribution amounts in case of financial difficulties.
Dr. Suratuzzaman highlighted that the government has already decided to invest approximately $100 million with ADB financing to accelerate and strengthen the pension scheme's operational activities.
He further noted that under the latest amendments to the Bangladesh Labour Act 2026, it is mandatory for all industrial units employing more than 100 workers to bring their employees under the Universal Pension Scheme.
He urged BGMEA to play a leading role in enrolling RMG entrepreneurs and workers, suggesting that at least one member from every family should be brought under the program. He added that the government is actively working to implement its 2026 election manifesto pledge to establish a pension fund.
Addressing the event, BGMEA President Mahmud Hasan Khan stated that enrolling all garment workers under the Universal Pension Scheme on a priority basis will play a historical role in fulfilling election promises and building a discrimination-free Bangladesh.
To make the scheme more attractive and popular among garment workers, he suggested providing special government incentives for the first two years and setting the pension age limit for RMG workers at 55 years instead of 60.
BGMEA Senior Vice President Inamul Haq Khan noted that while integrating nearly 50 lakh garment workers into the scheme and maintaining long-term management presents operational challenges, the government's initiative is timely and commendable.
BGMEA Vice President Md. Reazwan Selim emphasized that the scheme offers an attractive rate of return, making it an effective tool for workers' long-term security, and affirmed that BGMEA will work with a specific action plan to enroll RMG workers.
The discussion concluded with Executive Chairman Dr. Md. Suratuzzaman answering questions and clarifying doubts raised by the participants.
The event was attended by BGMEA members, garment factory owners, company executives, worker representatives, and relevant stakeholders. Major General Dr. Md. Sahedul Islam (Retd), Secretary General of BGMEA, released the statement.