Contributors can now get loan from Social Security Fund

KATHMANDU: The government has revised the ‘Social Security Fund Investment Guidelines’ in a bid to expand the jurisdiction of the guideline and assure it accumulates larger population.

Though the government launched the Social Security Fund (SSF) last year with much fanfare, majority of employers were seen reluctant to registers themselves at SSF due to different complications in the SSF guideline.

As per government statistics, there are 922,445 employers and 3.4 million workers in Nepal as of 2018. However, a total of 12,479 employers and 168,242 individuals were registered in the contribution-based social security scheme.

As per SSF, the amendment of the guideline focuses on mobilizing the resource collected in the fund for investment in the form of loan. The new guideline states that contributors can receive home loan, education loan and emergency loan from SSF up to Rs Rs 7.5 million.

Fiscal Nepal |
Sunday December 6, 2020, 01:37:58 PM |

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