The salient factors were, universal coverage, assurance of adequate future benefits, continuity and protection of accumulated funds, adjustment of pension benefits to the standard and cost of living, equity and advancement opportunities, inclusive mindset, provision for periodic review of these schemes, social security as well as social bonding. Assurance, political will etc. Due to these various reasons, it is possible to reduce the poverty rate of people in old age, the incidence of poverty, health risks, social security at a significant rate and the universal pension system has gained popularity.
The biggest risk of public pension management is that it is difficult to legislate. According to the socio-economic structure and customs of Bangladesh, the people of this country manage their own risk either by themselves or socially. Due to the country’s society, economy, lifestyle, religious practices, poverty, unemployment, income inequality, low income, joint family structure, personal, family and social ties are very high. For these reasons, the family, society or institution as a whole participates in one’s personal problems and helps overcome the problem.
