“At present, more than 500,000 retired government employees are enjoying pension benefits,” he said in his budget speech.
There’s no designated fund or authorities to manage these activities, Muhith said, “which may create imbalance in public expenditure management in future”.
He said the government decided to establish a Pension Fund Management Authority to oversee government employees’ pension.
“Initially, we will allocate a certain amount of fund for the authority.”
Apart making pension payments, the fund will invest in different portfolios to implement welfare programmes for pensioners, said Muhith.
