Monthly contributions to the Universal Pension Scheme can now be paid conveniently through the upay app. To make the payment process simpler, faster, and more secure, the National Pension Authority and upay, a fintech company operated by United Commercial Bank PLC (UCB), have signed a Memorandum of Understanding (MoU).
The MoU was signed at a ceremony held recently at a hotel in the capital. Under the agreement, registered members of the Universal Pension Scheme will be able to pay their monthly contributions conveniently through the upay app as well as through upay's extensive agent network across the country.
The signing ceremony was attended by Dr. Md. Suratuzzaman, Executive Chairman of the National Pension Authority, Munshi Abdul Ahad, Member (Fund Management), along with other senior officials from the Authority. Representing upay at the event were its Managing Director and Chief Executive Officer (CEO), Shyamal B. Das; Chief Business Officer, Md. Mahbub Sobhan; Deputy Director, Hasan Mohammad Zahid; along with other senior officials.
Under the MoU, the two organizations will jointly introduce a secure, reliable, and user-friendly digital payment solution. This will enable customers from anywhere in Bangladesh to pay their monthly Universal Pension Scheme contributions quickly and conveniently.
Speaking on the occasion, Dr. Md. Suratuzzaman, Executive Chairman of the National Pension Authority, said, The National Pension Authority is committed to making the Universal Pension Scheme more accessible and technology-driven. Through this partnership with upay, customers will be able to pay their monthly pension contributions securely and hassle-free. We believe this initiative will play a significant role in expanding the Universal Pension Scheme and promoting greater financial inclusion across the country.
