Dhaka, Feb. 6 -- The personal pension policy, once a popular insurance scheme offered by the state-owned Jiban Bima Corporation, has been scrapped for not being sufficiently profitable. The corporation issued a circular on Dec 1 last year halting further sales of the policy as recommended by its actuarial consultant.

"The recommendation of the actuarial consultant has been approved by the directorial board in its 624th meeting," the circular said.

Although new policies will not be sold, the existing policyholders will receive all benefits, said Jiban Bima Manager Mizanur Rahman.

"The corporation accepted the actuarial consultant's recommendation. They said that the personal pension policy wasn't profitable for the corporation. The sale...