Govt to clear teachers, employees' retirement benefit backlog in 6 months: Edu minister
Around Tk8,710 crore is needed to settle nearly 67,000 pending applications, while only Tk1,300 crore is available in the retirement fund.
The retirement benefits fund for retired teachers and employees of private educational institutions is currently facing a shortfall of around Tk7,410 crore, Education Minister Ehsanul Hoque Milon said today.
Around Tk8,710 crore is needed to settle nearly 67,000 pending applications, while only Tk1,300 crore is available in the retirement fund.
However, Milon said the government is sincere in addressing the crisis and ensuring the quick disbursement of retirement and welfare benefits.
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The minister made the remarks today (28 June) in response to a starred question tabled in parliament by Gaibandha-5 lawmaker Md Abdul Wares.
"Currently, around 67,000 applications remain pending with the Non-Government Educational Institutions Teachers and Employees Retirement Benefits Board. A teacher or employee receives around Tk13 lakh in retirement benefits on average. Around Tk8,710 crore is required to settle these applications," he said.
The education minister further said, "Around 45,000 applications have remained pending with the Non-Government Educational Institutions Teachers and Employees Welfare Trust from August 2023 to 21 June this year. Around Tk3,150 crore is required as a one-time allocation to settle these applications."
He said the government has taken steps to allocate the necessary funds to address the financial crisis of the retirement benefits board and the welfare trust.
At the same time, measures have been taken to speed up the processing of applications, including reactivating the software system, increasing manpower, expanding online services, and transferring money directly to the bank accounts of teachers and employees through iBAS++.
"The government is highly sincere about ensuring the quick disbursement of retirement and welfare benefits to retired teachers and employees of private educational institutions, and necessary administrative and financial initiatives are ongoing to this end," the minister said.
