The government-run Social Security Fund (SSF) has expanded its range of benefits for contributors, marking a significant enhancement in healthcare support. On the occasion of the seventh Social Security Day, the SSF announced an increase in the treatment coverage provided to the contributors. Until now, the SSF has been providing a maximum of Rs 100,000 for treatment but will now onwards cover 50 percent of medical expenses up to Rs 1 million. Additionally, healthcare services previously limited to the contributor and their spouse have been extended to include children up to 18 years of age.

According to the SSF, 19,769 employers and 1,797,640 workers, including those employed abroad, are registered with the Fund. The total contribution so far amounts to Rs 68.68 billion. Millions of contributors are expected to benefit from the enhanced facilities, which include plans for drug treatment, health and maternity care, accident and disability security, dependent family support, and old-age security.

At a program held in the capital on Tuesday, Prime Minister KP Sharma Oli announced the expansion, emphasizing the government’s commitment to uplifting marginalized groups and ensuring income for all citizens. “Prosperity will come when increased production enables people to save,” said Prime Minister Oli. He also highlighted the importance of expanding social security to the informal sector as well as daily-wage earners.

Private Sector Urges Investment in Infrastructure

The private sector has called for mobilizing the significant funds accumulated in the Social Security Fund for infrastructure development. Leaders of private sector umbrella organizations urged the SSF to invest in productive sectors, arguing that billions of rupees in the Fund remain underutilized.

Chandra Prasad Dhakal, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), emphasized the private sector’s role in expanding the Fund’s coverage.

"The private sector's involvement has been crucial in enrolling many employers and workers in a short time," he said. "These funds should now be directed toward productive and infrastructure sectors."

Similarly, Confederation of Nepalese Industries (CNI) President Rajesh Kumar Agrawal stressed that investing the funds in the productive sectors could drive economic growth. Nepal Chamber of Commerce (NCC) President Kamlesh Agrawal added that efforts should also focus on covering corporate bodies, banks, and financial institutions that have yet to join the SSF.