The Social Security Fund (SSF) has successfully enrolled a staggering 393,501 Nepali citizens employed in foreign job destinations in its contribution-based social security schemes within just seven months. This initiative, which began on March 22, has witnessed enthusiastic participation from Nepalis already working abroad, those in the process of obtaining labor permits, and those renewing existing permits.
The government’s mandate to the SSF to enroll both foreign employment workers and those preparing to work abroad has resulted in a substantial accumulation of funds. The SSF has successfully gathered a total of Rs 761.68 million in contributions from workers. Out of this, Rs 495.39 million has been attributed to the Old Age Protection Scheme, while Rs 266.27 million comes from the Accident and Disability Protection Scheme and Dependent Family Protection Scheme.
This program offers foreign employment workers the flexibility to either receive their entire sum or opt for a pension plan upon completing their employment. Their contributions range from Rs 2,300 to Rs 28,000 per month.
Notably, the SSF has registered a total of 845,193 workers, encompassing those in formal and informal sectors, foreign employment, and self-employment. Furthermore, 18,376 employers have also shown their commitment to the program by joining the SSF.
In terms of financial transactions, the SSF has collected an impressive Rs 42.90 billion in contributions from workers and has disbursed claims totaling Rs 6.16 billion, underlining the program’s vital role in supporting and securing the futures of Nepali foreign employment workers.