Pension payments through EFT institutionalized    
Pension payment has been brought under a faster, more transparent and bank-based payment system through Electronic Fund Transfer (EFT). The reform has reduced pensioners’ time, travel and cost, as they can now receive monthly pension directly in their own bank accounts and withdraw it through banks or ATMs. Public documents also report that 100% of new pensioners under Civil, CGDF and Railway categories are paid through EFT and pension is ensured in the first week of every month.

Centralized pension roll with EFT capability established         
A centralized pension roll has been established and made operational, enabling better control, validation and monitoring of pension payments. This has reduced fragmentation in pension administration and created a stronger foundation for timely, error-free pension service delivery. The World Bank results framework records the centralized pension roll with EFT payment capability as an achieved DLR.

Mobile-based Life Verification App introduced  
A mobile-based Pensioner Life Verification App has been introduced to allow pensioners to complete annual life verification digitally without visiting offices. The app also provides access to pension information, pension tax certificates, fiscal-year records and pension authority information. The app is publicly available on Google Play, with more than 5 lakh downloads and an update recorded on 14 June 2026.

Life verification linked with NID-based authentication  
Pensioner Life Verification has been strengthened through NID/Smart ID-based identification and registered mobile number verification. The CAFO Pension and Fund Management portal includes pensioner death information entry using 17-digit NID or 10-digit Smart ID and registered phone number, helping reduce risks of irregular or duplicate pension payments.

Dedicated CAFO Pension and Fund Management Office operationalized   
The establishment of the Chief Accounts and Finance Officer, Pension and Fund Management office has brought pensioners under a more uniform and specialized service arrangement. This dedicated institutional setup supports pension payment, GPF services, grievance handling and pension-related information services through a focused platform.

GP Fund Module made operational in iBAS++   
The General Provident Fund (GPF) Module has been implemented and made operational in iBAS++, replacing manual and error-prone GPF record keeping. The module supports accurate maintenance of GPF contributions, profit, balances, outstanding loans and advances. SPFMS progress reports show the GP Fund Module and Pension Service Module are fully operational in iBAS++.

Automated balance, profit and loan calculation of GPF introduced     
GPF contribution, profit, balance and loan/advance information are now maintained through the system, reducing manual calculation errors and improving the reliability of individual fund records. This has improved transparency for employees and strengthened fund management within the government accounting system.

Electronic Pension Payment Order and pension benefit calculation automated         
The pension fixation and benefit calculation process has been embedded in iBAS++, including system-generated monthly pension and allowances. Earlier World Bank implementation reporting notes that electronic Pension Payment Order, using NID, was made operational and monthly pension and allowances are automatically calculated by the system.

Delay in pension payment reduced        
Automation and EFT-based payment have helped reduce the long delays that previously occurred after retirement. No significant delay is happening in pension payments.

Government-wide annual GPF and Pension Service Report produced  
The scheme has generated government-wide annual reports covering GPF and pension services. This is an important step for evidence-based monitoring of pension and fund management and has been recognized as an achieved result indicator.

System-generated financial statements strengthened   
The scheme has contributed to improving the quality and timeliness of government financial reporting by strengthening system-based reporting from iBAS++ and related accounting data. SPFMS documents state that the scheme focuses on improving timely submission of accurate and complete financial reports, thereby supporting transparency and accountability in public sector financial management.

IPSAS cash-basis financial reporting reform advanced 
The reform agenda includes adoption and implementation of financial reporting under Cash Basis IPSAS, updating accounting policies and procedures, issuing new reporting formats and training CGA and OCAG officials on IPSAS compliance. The intended result is to make annual government financial statements compliant with international standards and produced in a timely manner.

IPSAS certification achieved by officials 
Capacity development on IPSAS has been a major achievement. A 14-week IPSAS certification training was arranged for officials from Finance Division, OCAG, CGA and SPFMS in two batches. SPFMS reported that 99 participants had received IPSAS certification, supporting Bangladesh’s transition from IPSAS cash basis toward accrual-based public sector accounting.