July 2: Employees of banks and financial institutions (BFIs) and insurance companies have started a protest programme expressing dissatisfaction over the contribution-based Social Security Fund (SSF).

Following the directive issued by the government asking all the private sector companies to compulsorily participate in the programme, employees’ associations of banks and financial institutions had been urging the government to make the SSF participation voluntary.

As their suggestions went unheard, the associations have announced to stage protests in three phases. In the first phase of the protest programme, the employees held demonstration with banners. In the second phase they will be working with black armbands and are planning to put down the pen in the third phase of the protest. 

Barun Khadka, treasurer of the Financial Employees Union, said employees from 16 banks, micro finance companies, and insurance companies have put up black banners in the central office of SSF along with their demands.

The Financial Institute Employees Union of Nepal stated that employees are being forced to participate in SSF without amending the inappropriate provisions of SSF Act, its regulation and work procedures.