KATHMANDU: The Social Security Fund under the Ministry of Labour, Employment, and Social Security has signed an agreement with the Nepal Bar Association, formally bringing the legal fraternity into the country’s growing social protection system.
The memorandum of understanding was signed during a ceremony held on Sunday evening in Kathmandu.
Speaking at the event, Labour Minister Sharatsingh Bhandari described the agreement as a pact of trust and praised the inclusion of a respected institution like the Nepal Bar Association in the Social Security Fund.
He added the Fund plays a vital role in ending the situation where individuals work tirelessly from morning to night but are left with nothing after retirement.
Minister Bhandari noted that the International Labour Organization (ILO) is preparing to present Nepal’s social security model as a potential role model for Gulf countries.
He added that the number of individuals enrolled in the Fund is nearing 2.4 million, which he said is a significant achievement and a positive indicator of the Fund’s growing success.
Kabiraj Adhikari, Executive Director of the Social Security Fund, expressed pride in the collaboration, stating that partnering with a leading institution like the Nepal Bar Association strengthens the mission of expanding social protection.
President of the Nepal Bar Association, Bijay Prasad Mishra, expressed confidence that the Social Security Fund can be successfully operated, just like Nepal’s banking system, Employee Provident Fund, and insurance schemes. He added that enrolling in the Fund would be a wise decision, especially for long-term benefits after retirement.
Attorney General Ramesh Badal highlighted the Fund’s role in offering relief not only during times of crisis but also when regular income ceases due to retirement or other reasons.
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