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A contribution-based social security system will be implemented for employees appointed from the next fiscal year 2082/83 instead of pension and gratuity.
On Friday, the Ministry of Finance issued a circular to all ministries, regulatory agencies, public institutions, boards, committees and institutions to arrange for the implementation of the social security system.
The Ministry of Finance has also requested to inform that the government of Nepal will not bear the liability created due to not implementing the contribution-based social security system.
Currently, the 'Plan Based Social Security Act, 2074' and the 'Pension Fund Act, 2075' for government employees are being implemented to provide social security to employees, laborers and other people. According to which social security system based on contribution was implemented from 2075.
