Social Security Fund pays out about Rs 1.5 billion to contributors

KATHMANDU: The Social Security Fund (SSF) has so far paid nearly Rs 1.5 billion to contributors under the social security scheme.

SSF has paid out Rs 1.47 billion, under various headings, to contributors until June 16, 2022.

As many as 10,596 contributors were paid Rs 19,456,979 under medical treatment, health and maternity scheme and 496 contributors received Rs 19,131,906 under accident and disability protection scheme.

Similarly, SSF stated that families of 210 contributors got Rs 30,366,393 under the dependent family security scheme and 17,772 contributors were paid out Rs 1.19 billion for the old age security scheme.

The fund has been providing four kinds of security services to its contributors.

Established on March 21, 2011, SSF went into implementation on November 27, 2018.

A total of 31 percent (11 percent from contributor’s wage and 20 percent by the employer) is deposited in the fund.

One percent of the contributed amount is allocated for medicare, health and maternity scheme, 1.4 percent for accident and disability protection, 0.27 percent for dependent family scheme and 28.33 percent for old age security scheme.