Barrister Md. Sameer Sattar, President of Dhaka Chamber of Commerce & Industry (DCCI) on Sunday in a statement said Universal Pension Scheme (UPS) is a timely move for inclusive and sustainable social safety net for the greater socio-economic development.
He said, “This move will create a new era in the economic history of Bangladesh. UPS offers four types of people-friendly packages including ‘Pragati’, ‘Surokkha’, ‘Samata’ and ‘Prabashi’ targeting different communities, especially private sector employees, NRBs, informal sector, and low-income groups of individuals.”
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This scheme can also bring in an almost large number of people the society under its net. The option of a 50 percent contribution by the government to the insolvent depositors under the “Samata” scheme is also a remarkable move, he said.
Many developed and developing economies like the Netherlands, Denmark, Germany, Australia, India, Canada, Iceland, and Switzerland have meanwhile successfully implemented this sort of scheme to safeguard the welfare of their mass people, the DCCI president said.
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“Replication of operational and safety learning from these countries may help the new scheme to perform as the game-changer of our much-needed economic transformation,” he added.