This paper explains how Bangladesh’s remarkable poverty reduction achievements stand against the backdrop of a fragmented and weak social protection system. While the 2015 National Social Security Strategy (NSSS) promised reform, progress has been limited in programme consolidation, targeting accuracy, and institutional strengthening. Benefits remain too low and eroded by inflation, while inflated budget figures obscure the real scale of investment. Rising inequality, rural-urban disparities, and vulnerabilities, heightened during COVID-19, expose systemic gaps. With the NSSS set to expire in 2026, the chapter calls for urgent re-strategising—sharpening focus on poverty and vulnerability, boosting financing, and ensuring inclusive, equitable development.