Community Bank Partners With National Pension Authority

Community Bank Bangladesh PLC has entered into a formal partnership with the National Pension Authority (NPA) to support the digital collection of monthly contributions under the country’s Universal Pension Scheme, marking another step towards expanding financial inclusion and strengthening long-term social security.

A Memorandum of Understanding (MoU) to this effect was signed recently, enabling Community Bank to collect pension instalments for four flagship schemes—Probas, Pragati, Surakkha, and Samata—through its nationwide network of branches and sub-branches. The agreement was signed by Mr Kimiwa Saddat, Managing Director (Current Charge) of Community Bank Bangladesh PLC, and Mr Md Mohiuddin Khan, Executive Chairman of the National Pension Authority, according to an official media release.

The Universal Pension Scheme, introduced by the government as a cornerstone of its social protection framework, is designed to bring diverse segments of the population under a structured, contributory pension system. Each scheme targets a specific demographic group, ensuring that pension coverage is not limited to salaried government employees but extended to expatriates, private sector workers, the self-employed, and economically vulnerable citizens.

Under the newly signed MoU, subscribers will be able to deposit their monthly pension contributions conveniently through Community Bank’s physical banking outlets. This is expected to reduce procedural barriers, particularly for contributors in semi-urban and rural areas who may have limited access to digital-only platforms. Bank officials noted that the initiative aligns with Community Bank’s mandate to serve community-based customers and support national development priorities.

Senior executives and officials from both institutions attended the signing ceremony, underscoring the strategic importance of the collaboration. Representatives of the National Pension Authority highlighted that partnerships with scheduled banks are essential for ensuring smooth contribution flows, transparency, and public confidence in the pension system.

Industry observers believe that such collaborations will play a critical role in scaling up the Universal Pension Scheme, especially as awareness grows and enrolment increases across different income groups. By leveraging established banking infrastructure, the NPA aims to make pension participation simpler, more reliable, and more accessible.

Overview of Universal Pension Schemes

With this agreement in place, Community Bank Bangladesh PLC strengthens its role as a facilitator of national social welfare initiatives, while the National Pension Authority moves closer to its goal of building a comprehensive, inclusive, and sustainable pension ecosystem for the country.