Social Security Fund Disburses Rs.33 million Under Accidental Protection Scheme

Kathmandu: The Social Security Fund (SSF) has disbursed above Rs. 33 million against Accidental Protection Scheme. According to the data unveiled by the SSF, 864 contributors have been benefited under the scheme till Kartik 13, 2079.

Apart from this, a total of 28 thousand 64 people have been paid Rs 2.8 billion under the old age security scheme. The SSF has collected a total sum of Rs. 24.83 billion till 13th Kartik 2079. A total of 17,431 institutions and 37108 employees are affiliated to the fund.

According to the fund, out of the amount collected, Rs. 16.40 billion has been allocated under the Old Age Protection Scheme. It amount to 66 percent of the total fund collected. Apart from Old Age Protection Scheme, the second largest amount has been allocated for General Retirement Fund. A sum of Rs. 4.85 billion has been allocated under it and Rs. 1.5 billion has been allocated for the Accident and Disability Protection Scheme.

The SSF has been collecting 11 percent of the salary from individual employee and an additional 20 percent the employer, which accounts to 31 percent of the salary. Out of the total 31 percent collected, 1 percent is allocated for medical treatment, 1.4 percent for accident and disability, 0.27 percent for dependent family protection, 20 percent for pension plan and remaining 8.33 percent for retirement plan.

The SSF has been covering the entire medical expenses in case of injuries due to accidents at the workplace. But in case of injury in an accident outside the workplace, there is a provision to pay only a maximum of Rs. 7 lakh for medical expenses.

Although membership in the social security fund has been made mandatory for the organized sector since Sawan 1, 2076, many organized institutions have not yet joined it, expressing dissatisfaction over the partiality between government employee and private sector’s employee.

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