NPA, upay sign deal to simplify universal pension payments

Registered members of the Universal Pension Scheme can now pay their monthly contributions through the upay app and its nationwide agent network under a new agreement signed between the National Pension Authority and upay.

The National Pension Authority (NPA) and upay, a fintech company operated by United Commercial Bank PLC, signed a Memorandum of Understanding recently at a hotel in the capital to make pension contribution payments simpler, faster and more secure, according to a press release.

Under the agreement, members of the Universal Pension Scheme will be able to pay their monthly contributions through the upay app and upay agents across the country.

National Pension Authority Executive Chairman Dr Md Suratuzzaman, Member (Fund Management) Munshi Abdul Ahad and other senior officials of the authority attended the signing ceremony.

upay Managing Director and Chief Executive Officer Shyamal B Das, Chief Business Officer Md Mahbub Sobhan, Deputy Director Hasan Mohammad Zahid and other senior officials of the company were also present.

Under the Memorandum of Understanding, the two organisations will jointly introduce a secure, reliable and user-friendly digital payment solution, enabling customers from anywhere in Bangladesh to pay their monthly Universal Pension Scheme contributions quickly and conveniently.

"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 without hassle," Dr Md Suratuzzaman said.