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Retirement and Pension System in Bangladesh M …

M Alimullah Miyan 11 Retirement and Pension System in Bangladesh M Alimullah Miyan Doctor Vice-Chancellor & Founder IUBAT International University of Business Agriculture and Technology Dhaka, Bangladesh E-mail: Abstract The Retirement issue mostly relates to those who are in job situation and the Retirement age in public service is 57 years. The agriculture sector has no Retirement concept as also the case in self-employment. The aspects of Retirement in terms of age, old age welfare and social impact have been discussed in this paper. Pension System in Bangladesh is mainly observed in government services. The Pension issues are settled according to the rules of the Public Servants ( Retirement ) Act of 1974.

Retirement and Pension System in Bangladesh M Alimullah Miyan 13 According to Bangladesh Population Census of 2001 the number of elderly people by age

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1 M Alimullah Miyan 11 Retirement and Pension System in Bangladesh M Alimullah Miyan Doctor Vice-Chancellor & Founder IUBAT International University of Business Agriculture and Technology Dhaka, Bangladesh E-mail: Abstract The Retirement issue mostly relates to those who are in job situation and the Retirement age in public service is 57 years. The agriculture sector has no Retirement concept as also the case in self-employment. The aspects of Retirement in terms of age, old age welfare and social impact have been discussed in this paper. Pension System in Bangladesh is mainly observed in government services. The Pension issues are settled according to the rules of the Public Servants ( Retirement ) Act of 1974.

2 There are four categories of pensions which have been elaborated and analyzed in the paper. There are about 36 million labors working in agriculture sector in the country, who are not covered by pensions. Similarly migrant workers do not receive any Pension . There is no provision of Pension for private sector workers. They only receive some gratuity at Retirement . Government has recently introduced Old Age Allowance Programme which covers small fraction of elderly people in the country who are not covered by Pension System . Although limited in coverage, this is a healthy beginning of providing security to vast majority of the elderly people who are not covered by the existing Pension System .

3 Family support is the basic security of most elderly people in Bangladesh . Policy level initiatives and institutional arrangements to provide social security to the elderly outside the family System is quite limited. There is a felt need for evolving a Retirement and Pension System that will be fair, equitable to all segments of the society, meet the constitutional obligation of social security for the elderly and conform to basic human dignity. Retirement and Pension System in Bangladesh 12 M Alimullah Miyan I. Background Bangladesh lies in the north eastern part of South Asia having borders with India, Myanmar and the Bay of Bengal on the southern side.

4 The area of the country is about 148,000 sq. with an estimated population of 123 million (2001) making it as one of the most densely populated country of the world. The economy of Bangladesh is mostly agro-based. Agriculture makes highest contribution to Gross Domestic Product (GDP) as can be deduced from the statistics on contributions of different sectors. Bangladesh witnessed on an average growth rate of little over 5% of GDP between 1996-2000 and the projection for the present fiscal year is around 6%. On the face of population growth of per anum, this is a very low growth rate. This is also reflected in the low levels of savings and investment in the economy despite some improvement in recent years.

5 The per capita income is Tk. 19,617 (US$ 364) but there is high level of disparity in income distribution. A large number of people live in abject poverty condition. Although there has been an annual reduction of percentage point in poverty line, the situation is grim for large segment of population. The composition of the population was estimated at male and female with an annual growth rate is The rural population constitute about million and urban population is in the bracket of million. The elderly population in the country now constitute about million of which million are male and million female. Increased life expectancy caused by improvement in living condition, health care as well as changing demographic structure of the country is resulting in increase in proportion of elderly people .

6 This is a disturbing phenomena but the traditional joint family System prevailing in the country shielded the elderly within the family structure. However, modernization of society with break-up of joint family System , urban and out-country migration of youth and economic degradation in the society are giving rise to the problem of ageing and elderly care has become a major concern for the society. This evolving problem is yet to be fully understood and receive policy level attention by the government and civil society including academics. II. Ageing Issues in Bangladesh Ageing is a common phenomena across the world and over time. It includes the proportion of elderly population aged sixty years and above.

7 It is an emerging issue in Bangladesh . The developed countries evolved policy instruments in the form of social security as well as care for the elderly through institutions like old age homes, geriatric hospitals, old age recreation center and many other public and private care systems for the aged. With the improvement in health care and increased life expectancy it is becoming a vital problem in the developing countries including Bangladesh . Over the last one decade, in Bangladesh the proportion of elderly population has been gradually increasing. Presently about six percent of the populations are elderly 9 million people . By 2025 one in ten persons will be elderly 18 million people .

8 Retirement and Pension System in Bangladesh M Alimullah Miyan 13 According to Bangladesh Population Census of 2001 the number of elderly people by age groups and by sex were as follows: Age Group Both Sex (in million) Male (in million) Female (in million) 60-64 65-69 .81 .63 70 + .18 This shows a trend of increase in longevity of elderly people which will accentuate the problem of elderly care in the coming years. Historical trend and projection of elderly people as proportion of total population indicate interesting movement as below: Year Total Population in Bangladesh (in million) % of elderly people above 60 in Bangladesh 1980 88,221 1985 99,373 1990 1,09,465 1995 1,18,616 2000 1,29,155 2005 1,40,566 2010 1,51,799 2015 1,61,540 2020 1,70,194 In Bangladesh the elderly people above 60 years constituted in 1980 but in 2000 the percentage came down to In 2020 the elderly people will constitute In Bangladesh ageing population has become an important social concern because, like many other developing countries, there is no social security System .

9 In view of the size of population, scarcity of resources, existing poverty, insufficient health facilities and absence of social security, ageing is going to be a major problem in Bangladesh . Unlike other segments, the elderly has not been subjected to demographic research, which partially accounts for low attention to ageing issue in Bangladesh society. After a decade, Retirement and Pension System in Bangladesh 14 M Alimullah Miyan severe problems with regard to ageing will occur in the country which will affect the economic and health sectors. Generally speaking ageing is an outcome mainly because of declining fertility and mortality.

10 As the ageing process increases the elderly people will experience diminishing capabilities. Since there are no special treatment facilities for elderly people , they will face verities of problems related to health. Ageing has been identified as a social problem because the elderly people depend on the active population. The old persons traditionally rely on their family for their support and care. In Bangladesh majority of older people live in absolute poverty after a life style of deprivation, ill health and social isolation. The neglected, ignored and ill fated elderly people of the country who established the present generation with all they had in their youth now are living in distress.


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