Kathmandu: Nepal’s Social Security Fund (SSF), designed to bring every citizen under a formal social safety net, has accumulated nearly Rs 95 billion in contributions to date.
As of the latest update, total contributions stand at Rs 95.44 billion. The fund now includes 22,309 registered employers and 2.64 million registered contributors (workers).
So far, the SSF has paid out Rs 17.65 billion in claims, including:
Medical treatment, maternity and health benefits: Rs 2.51 billion
Accident and disability benefits: Rs 223 million
Dependent family protection: Rs 291 million
Retirement/pension benefits: Rs 14.62 billion
The fund’s reach and effectiveness have grown significantly after the government made enrollment mandatory for Nepali migrant workers heading abroad. Self-employed individuals, factory workers, and employees of businesses and organizations can also voluntarily join and contribute.
Workers who contribute regularly are eligible for a comprehensive package that includes healthcare and maternity support, pension plans, accident and disability coverage, dependent family protection, and old-age security benefits.
As the fund continues to grow rapidly, experts and stakeholders are calling for more innovative schemes to make it even more effective. With contributions rising steadily, there is also a pressing need to explore new, sustainable investment opportunities for the growing pool of funds.
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