July 25, 2024, Thursday
Nepal 1:37:26 pm

Social Security Fund needs to be restructured to lure more people: Minister

The Nepal Weekly
June 7, 2022
Minister Shrestha

Minister for Labour, Employment and Social Security Krishna Kumar Shrestha has said that the social security fund needs to be restructured to attract more employers and contributors. Speaking at a discussion program organized at the Ministry of Labour on June 3, on the effective operation and management of the Social Security Fund, Minister Shrestha said that the attraction of employer companies and workers towards the fund should be increased.  The plan of the fund should be reviewed to increase the attraction of employers and contributors, pointed out Minister Shrestha.

Speaking on the occasion, Secretary at the Ministry Eknarayan Aryal said that the fund should give assurance to the employers and contributors that social security would be guaranteed by bringing attractive facilities and schemes. Aryal said that new arrangements should be made for the operation of the money in the fund, investment and management of the return from it. Social security expert Krishna Acharya said that the social security fund should bring attractive facilities and schemes to the employers and workers of small and medium enterprises. He also advised that the structural reforms of the fund and the mobilization of funds and investment arrangements in the fund should be reviewed. Various stakeholders say that the contribution-based social security program should be promoted in a way that benefits both workers and employers.