Kathmandu, Nov 24: The Social Security Fund (SSF), launched by the government to bring citizens under the umbrella of social protection, is close to reaching Rs 100 billion in total contributions.
According to the Fund, total contributions have reached Rs 95.44 billion so far. The number of registered employers has reached 22,309, while the number of registered contributors stands at 2,641,189. The Fund has paid out Rs 17.64 billion in claims to date.
The Fund’s effectiveness has increased after the government made participation mandatory for workers going abroad for foreign employment. Self-employed workers, employees of industries and enterprises, and workers affiliated with various organizations can also enroll as contributors.
Regular contributors receive benefits under medical treatment, pension, accident and disability security plans, dependent family security plans, and old-age protection plans.
The Fund reports that payments include Rs 2.51 billion for medical treatment, health, and maternity claims; Rs 228.65 million for accident and disability claims; Rs 290.72 million under dependent family security claims; and Rs 14.61 billion for retirement claims.
Stakeholders have emphasized the need to introduce more innovative programs to enhance the Fund’s effectiveness. As contributions continue to rise, the need to explore additional investment opportunities has also grown. #nepal #SSF #socialsecurity
