Karmachari Sanchaya Kosh is a retirement fund for the government and non-government employees of Nepal. The fund has its roots in the military provident fund in the early 1800 in Nepal. This was during the Rana regime. The fund was approved to ensure that the army personnel had some safety net after their retirement.
The same concept was expanded to other sectors of the government during the early 1960s. Each employee saves 10% of their paycheck to this providend fund. At this time the fund represents about 500,000 individuals.
The fund invests into various projects in Nepal. Since there are no such savings funds for many people who are not eligible for this type of fund, there are other ways to save for retirement.
Alternatives to this fund can be found in the related articles below. If you have more questions please contact us at : email@example.com
Branch: Head Office