From the collected amount, the fund has so far paid out approximately Rs 18.5 billion, including claim payments, retirement payments, and pensions.
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The Social Security Fund has collected more than one trillion rupees in contributions in 6 years and 7 months. According to the fund, the significant contribution was collected after the participation of workers in formal, informal, self-employed and foreign employment.
The Social Security Fund has stated that contributions have been collected from 671,000 workers in the formal sector, about 2 million in foreign employment, and about 1,600 workers and individuals in the informal and self-employed sectors.
From the collected amount, the Fund has paid about 18.5 billion rupees so far, including claim payments, retirement payments, and pensions. When income from other sources is added, the Fund's current investment portfolio has reached about 132 billion rupees.
The Fund has been investing the amount in financial instruments such as currency deposits, government bonds, debentures, and mutual funds, giving priority to the security aspect. In addition, the Fund has stated that discussions are underway at various levels regarding the policy arrangement to issue special bonds with the aim of investing the Social Security Fund's funds in the construction of physical infrastructure of the state.
Addressing the demands of the contributors, the Fund has also made the first amendment to the Social Security Fund Investment Procedure, 2077. According to the revised arrangement, now contributors who have contributed for 12 months for special loans and 18 months for collateral-based loans will also be able to avail loan facilities. Earlier, a minimum contribution of 36 months was mandatory to avail loans.
Expanding the scope of social security schemes implemented from the formal sector in the beginning, the fund has now included the informal, self-employed and foreign employment sectors. In addition, since 1 Baisakh 2082, there is a provision that even employees who receive salaries from the government fund must be affiliated with the Social Security Fund. So far, 91 local levels and 38 public bodies have affiliated their employees with the fund.
In terms of service and facility delivery, the fund has paid Rs 2.73 billion for 800,000 claims under drug treatment, health and maternity facilities. Similarly, Rs 243.2 million including disability allowance has been paid to 13,000 claims for accident treatment and 18 people who were disabled due to employment-related accidents.
809 families of deceased contributors who contributed to the fund have so far been provided with monthly pensions worth Rs 308.6 million under the Dependent Family Security Scheme. Similarly, the Social Security Fund has stated that it has provided facilities worth Rs 15.24 billion under retirement payments to 116,000 people.
