Tier 3: Private Voluntary Pensions

The Government will encourage the growth of private pensions for those who want additional protection in old age and are willing to finance this themselves. This process will start by the commissioning of a study of current private pensions in Bangladesh with a view to making recommendations on how to encourage the growth of private pension schemes and ensuring the security of investments by members of such schemes. The study will examine the viability of establishing a Pension Regulatory Authority that will be responsible for supervising private pensions, thereby ensuring their integrity, fairness and financial sustainability. The study will commence by January 2015, under the auspices of the Ministry of Social Development.