Bangladesh, the eighth largest and one of the most densely populated countries. It has apopulation of 158,570,535 millions in 2011. In 2007, the number of the older people aged 60and above in this country was 9.41 million and it has increased from 1.94 million in 1951 whichis quite phenomenal. The economy of Bangladesh is mostly agro-based. Agriculture makeshighest contribution to Gross Domestic Product (GDP) as can be deduced from the statistics oncontributions of different sectors. Bangladesh witnessed on an average growth rate of littleover 5% of GDP between 1996-2000 and the projection for the present fiscal year is around 6%.Bangladesh is now the 8
populated country in the world and projected to remain in the sameposition in 2050.Bangladesh Government has introduced a pension system for its retired employees since theBritish rule in 1924.Retirement age in government services is now 57 years. According togeneral recruitment rul
es, a person can enter into public service from minimum eighteen years’
age provided that the person has requisite qualification for service. Public pension is one of thekey areas of public expenditure in Bangladesh. Pension rules were modified after the end of theBritish rule in 1952 and later it was modified again in different stages in 1972, 1974, 1977, 1982,1985, 1988, 1989, 1991 and 1994 after the independence of Bangladesh in 1971.At present,generally, a government employee gets 32, 48, 64 and 80 percent of the basic salary as thepension after retiring or at death at the 10th, 15th, 20th and 25th year of his/her employmentrespectively. There are different types of pension such as Compensation Pension, InvalidPension, Superannuation Pension, Retiring Pension, Optional Pension, and Family Pension.Pension delivery processing for compensation, superannuation and retiring pensions are almostsimilar. But this is different for invalid, family and extraordinary pensions. For example, 10-11sets of papers have to be submitted to the authorities for retiring pension. But for invalidpension, 11-12 sets of papers have to be submitted. In case of family pension, 10-18 sets of papers have to be submitted.