Social Security Fund Collects Over NPR 102 Billion, Contributors Exceed 2.8 Million

Kathmandu – The Social Security Fund of Nepal has accumulated more than NPR 102.54 billion in contributions as of Falgun 10. The fund officially launched its social security schemes on November 27, 2018 (Mangsir 11, 2075 B.S.) and began collecting contributions from Shrawan 1, 2076 B.S.

Under the scheme, 31 percent of a worker’s monthly basic salary in the formal sector is deposited into the fund, with 11 percent contributed by the employee and 20 percent by the employer. Contributors may also make additional voluntary payments. Monthly contributions must be deposited by the 15th of the following month.

According to spokesperson Krishna Adhikari, the collected funds are securely invested in government securities, bonds, commercial bank deposits, mutual funds, debentures, and also provided as loans to contributors.

Currently, the total number of enrolled contributors has reached 2,822,333, while 23,084 employers are registered with the fund. Among the total contributors, around 679,000 are from the formal sector, and nearly 2.2 million are migrant workers abroad. Participation from the informal and self-employed sectors remains relatively low, with only 854 informal workers and 808 self-employed individuals enrolled in the scheme.