Social Security Fund has over 400,000 contributors

KATHMANDU, MARCH 24 : The number of contributors enlisted in the Social Security Fund has reached more than 400,000. Around 430,000 workers have enlisted in the Fund within four years of the launching of the Social Security Scheme. The Fund had announced the scheme on November 27, 2018. 

The Fund has recorded the highest number of contributors from Bagmati province with 307,718 contributors. Similarly, 38,957 workers from Koshi province are enlisted in the Fund while 21,258 from Madhes Province, 15,241 from Gandaki province, 14,099 from Lumbini Province, 1,529 from Sudurpaschim Province and 1,228 from Karnali Province.

The Fund has set a target to enlist 500,000 workers by the end of the current fiscal year. Around 17,739 employers are associated to the Fund. The Fund has collected Rs 30.11 billion contribution so far. It has paid a claim of Rs 2.83 billion to contributors under various schemes. The Fund has been expanding the social security area in the recent period. The Fund, which is been incorporating the workers of the informal sector in the scheme, has started enlisting Nepali migrant workers and those who are self-employed in foreign lands in the Fund from the last Wednesday (March 22). 

With this, it is expected that millions of workers, who are in overseas employment and those who are self-employed in foreign lands, would be incorporated in the scheme. The Non-Resident Nepali Association had been urging the government to incorporate Nepali migrant workers in the social security scheme. The Fund has been running different schemes including medicine, treatment, health, accident and disability security schemes for the regular contributors.