The budget for 2019-20 fiscal year has proposed for pension schemes for all.

Finance Minister AHM Mustafa Kamal forwarded the proposal while unveiling Tk 5.23 trillion budget at the House on Thursday (Jun 13).

The minister also proposed to form a 'Universal Pension Authority' citing that, the government pensioners are only a small fraction of the total population in the country.

The proposed authority will gradually introduce pension for everyone including all employed in formal and informal sectors of the economy.

At present, Bangladesh government only provide pensions for retired government officials only.