Social Security Fund Expands by NPR 2.9 Billion with Addition of 2,229 Employers

According to reports, by the end of Falgun in the current fiscal year, 2,229 new employers and over 2.8 million workers have been registered with the Social Security Fund. As of Falgun 2082, the fund has collected NPR 10.42 billion. To date, approximately 1,053,028 contributors have received around NPR 1.924 billion in claim payments from the fund.

May 26, Kathmandu – Until Falgun of this fiscal year, 2,229 new employers were added to the Social Security Fund. Contributions amounting to roughly NPR 2.9 billion have been collected from these newly registered employers. Up to Falgun, a total of 2,851,382 workers have been registered in the Social Security Fund across different sectors: 685,487 in the formal sector, 2,164,159 working abroad, 904 in the informal sector, and 832 self-employed individuals.

Up to Falgun of the current fiscal year, an additional 471,803 workers from the formal, informal, foreign employment, and self-employment sectors have been enrolled in the social security program. In the same period last fiscal year, this number was 587,464. By Falgun 2082, a total of 23,210 employers had been registered with the Social Security Fund. Bagmati Province has the highest number of registered employers and contributors, while Karnali Province has the lowest.

With the addition of 2,229 employers by Falgun of this fiscal year, the total collection in the fund has reached NPR 10.42 billion. For the previous fiscal year until Falgun, the fund had collected NPR 7.575 billion. To date, 1,053,028 contributors have received approximately NPR 1.924 billion in claim payments. In the current fiscal year alone, up to Falgun, about 294,859 contributors have received claim payments amounting to NPR 348 million.