Kathmandu, Aug. 13
Nerude
Mirmire Microfinance Financial Institution and Upakar Microfinance Financial
Institution Limited have joined the Citizens Investment Trust (CIT)’s gratuity
and pension scheme. Nerude Microfinance employs around 1,100 staff, and Upakar
Microfinance has over 100 employees.
CIT’s
scheme allows participation from organised institutions and their employees.
Under this arrangement, organisations may manage gratuity funds either on a
contributory or non-contributory basis.
In line
with this provision, both microfinance institutions have enrolled in the
Trust’s gratuity scheme. Previously, National Microfinance had also joined the
scheme.
The
gratuity and pension scheme, launched by the CIT in 1998, collects and invests
funds on behalf of employees and workers from various organised institutions.
The accumulated gratuity and pension amounts are then paid to employees upon
retirement.
The
scheme offers the option of participation through both contributory and
non-contributory deposits. At present, it includes 1,150 organised institutions
and around 33,000 employees.
Employees
who personally participate in the scheme are entitled to housing loan
facilities for home purchase, renovation, restructuring, rescheduling, or
decoration. In addition, participants can also access simple loan facilities
for urgent financial, social, cultural, and family-related needs.
Published in The Rising Nepal daily on 14 August 2025.
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