Kathmandu, February 20. The Falebas municipality has begun a workers welfare fund and civic gratuity scheme. 

The pension programme has been launched to address the financial problems of the workers in the unorganized sector and to citizens above 60 years of age. Accordingly, the workers in the unorganized sector will deposit Rs. 500 monthly which will be matched by the municipality.

The depositors upon crossing 60 years of age can withdraw the amount in its entirety or get a monthly pension. The deposit will be made in the citizens’ investment fund.

Accordingly, the municipality has signed a memorandum of understanding with the Citizen’s Investment Trust. Mayor Padampani Sharma and Executive Director of the Trust Raman Nepal signed the MoU at a function here on Friday. 

Under the first phase of the scheme, 800 workers have been listed. They have already started making the deposit from the month of Poush, programme coordinator Ramesh Sharma said. Along with the old age allowance, this scheme is expected to help the people in their old age to meet their day-to-day expenses with ease, added Sharma. 

Speaking at the programme, Mayor Sharma expressed happiness for being the first municipality in the country to begin the pension scheme by establishing the civic welfare fund. The municipality targets to include 1,300 workers in the scheme by next year.

Deputy Mayor Manju Adhikari and CIT Executive Director Nepal also shed light on the utility of the programme.

(Except for the headline and the cover picture, this story has not been edited by DCNepaL staff and is published from a syndicated feed by RSS.)