Metropolis Desk-
According to Kabirul Ezdani Khan, executive head of the National Pension Authority, policyholders may borrow against the funds they placed as subscription fees for the universal pension program.
He said that the loan must be repaid in a maximum of 24 installments and that the contributor is permitted to borrow up to 50% of the money placed for the pension fund.
A policyholder may also borrow more than once from the pension plan, but the second loan will only be granted once the first loan has been successfully repaid, he noted.
Khan provided the details at a session that was held at the Metropolitan Chamber of Commerce and Industry, Dhaka (MCCI), Motijheel office.
The Progoti program, which is intended for employees of private enterprises, has seen the most response since the system’s August 17 introduction, according to the executive director of the pension authority.
The public’s contributions would initially be used to buy Treasury bonds and Treasury bills, the official said. Saiful Islam, president of the MCCI, stated at the occasion that the Progoti plan will be crucial in maintaining the financial stability of workers and employees in the private sector.
On August 17, the government launched the eagerly awaited universal pension program to cover all people over the age of 18.
