Comparative Study on Retirement Plan between Bangladesh & U.S.A

Abstract

This report is all about how the program is operated within the USA and Bangladesh. it is the comparative study I have got tried my best to understand how effectively and efficiently the USA retirement industry is regulated. On the opposite hand, In Bangladesh, the retirement industry does not have that much Infrastructure to work and maintain properly. First, here I might prefer to explain about the USA retirement procedure. There are various well-known features, rules, and regulations which is set-up by the federal government to form the retirement industry more practical and efficient. they are working for all kinds of public and personal companies which is situated within the USA. The United States is incredibly conscious and smitten by protecting and financially safeguarding the interests of elderly people in retired life. The IRS (Internal Revenue Service) and DOL (Department of Labor) provide the employer with instructions for handling the pension decide to provide retirement benefits to their employees. The retirement savings account also allows the employer to urge tax benefits on the company's earnings. The Bangladesh Retirement Industry is mentioned briefly within the second stage of the study. There are various styles of pension schemes that are unorganized and completely unstructured in both the govt and personal sectors. No proper pension plan guidelines like gratuity, Benevolent Fund, government housing, community benefits, etc. I tried to spot how USA and Bangladesh retirement policies differ on some details within the Third Phase. There are variations in government laws, people's rights, economic contribution, reliance, amount of profit, etc. Finally, supported the analysis I provided some necessary recommendations that secure the privilege of retired persons, like the govt. should agonize and genuine. If the govt changes or reshapes the policy, it would be necessary to place during a structured policy. This report would also help Bangladesh boost its provident fund for retirement.