Monthly pension to range from Tk 18,000 to Tk 70,200 - Prothom Alo English

PensionRepresentational imageThe pensions of retired government officials and employees will increase in five phases.

As a result, those who retired many years ago and receive relatively low pensions will see larger increases. This has been stated in the new pay structure.

The gazette notification on the new pay structure was published on Saturday.

The new structure is effective from 1 July. At the lowest level, pensioners who currently receive Tk 9,000 will now receive Tk 18,000. Meanwhile, those currently receiving the highest pensions, Tk 40,001 or more per month, will receive Tk 70,200.

According to the new decision, net pensions will increase by 100 per cent for those receiving Tk 9,000 or less per month; by 75 per cent for those receiving between Tk 9,001 and Tk 20,000; by 65 per cent for those receiving between Tk 20,001 and Tk 30,000; by 60 per cent for those receiving between Tk 30,001 and Tk 40,000; and by 55 per cent for those receiving Tk 40,001 or more.

The Cabinet approved the proposal for the new pay structure on 31 August. Following the Cabinet meeting that day, Cabinet Secretary Nasimul Ghani told a press conference that, in line with the election manifesto, the current government was committed to introducing the ‘one rank, one pension’ (OROP) system.

He said the system needed to be implemented simultaneously for both military and civilian personnel. However, introducing the system will require substantial funding.

In addition, because information on civilian employees who retired before 2019 is unavailable, the system will be implemented gradually by 2030.