Kathmandu. Kathmandu: The High-Level Economic Reform Suggestion Commission formed by the government has suggested not to increase the social security allowance for the next five years.
The commission made the recommendation in its final report submitted to Finance Minister Bishnu Poudel on Friday. The Commission has suggested that the social security allowance should not be increased for the next five years and then the allowance should be increased every two years on the basis of price rise.
Similarly, the Commission has suggested that the allowance of senior citizens should be distributed only after attaining the age of 70 years. At present, senior citizens are given allowance after attaining the age of 68 years. The Commission has suggested amending the Social Security Act, 2075 BS to make the age of senior citizen allowance 70 years.
Similarly, the Commission has suggested the government to deposit 1.5 percent social security tax on all salary and wage payments to the Social Security Fund and involve informal sector workers in contribution-based social security.
