CIT signs pension scheme wih Nerude and Upakar

 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.