Monday 01 May 2017, 8:31 am
Trump celebrates first 100 days, blasts media                    Historic May Day today                    Mashrafee returns home as wife sick                    Sramik Dal denied permission for May Day rally                    Man, wife found dead in Sylhet, Dhaka                    

Muhith cautions against encashment of 100pc pension

Staff Reporter |
Inserted: 21:34, Wednesday 11 January 2017 || Updated: 11:45, Thursday 12 January 2017

Muhith cautions against encashment of 100pc pension - National
Finance Minister AMA Muhith on Wednesday cautioned government employees against encashment of their pension money after retirement.

Dhaka: Finance Minister AMA Muhith has said the government service holders can encash their pension money by only 50 percent after their retirement, instead of previous 100 percent on their own decision.

"The present government through a gazette notification issued on January 9 and with effect from July 1 this year abolished the provision of withdrawing 100 percent retirement benefit, a wrong decision that bereft the retired officials of enhanced benefits," he told reporters after a meeting at the secretariat here on Wednesday.

Responding to a question on launching pension in the private sector, the minister said the government has undertaken a plan to introduce pension facilities in the private sector but it would take time.

According to a circular issued by the Finance Division of the Ministry of Finance, the government employees can encash 50 percent of their pension money after retirement and rest of the amount can be drawn on monthly installments.

The pensioners will get a five percent increment on their monthly pension amount from July 1, 2017, the circular said.

Any unauthorised use or reproduction of content for commercial purposes is strictly prohibited and constitutes copyright infringement liable to legal action.
Your Comments