The National Social Security Fund’s (NSSF) Benefit Division urged media outlets that have not registered with the NSSF to do so by the end of September, in order to qualify for special old-age pension provisions.
The division director, Sok Bora, issued the request as he addressed a June 21 forum held under the theme “Benefits of NSSF for people and journalists” in Phnom Penh. The forum was hosted by the Club of Cambodian Journalists (CCJ).
Bora explained the details of the special provisions.
“For example, if you have made contributions for 10 years and reach the retirement age of 60, the NSSF will add another 10 years’ contributions. This means you will receive the equivalent of 20 years of payments, despite only contributing for 10,” he said.
He clarified that companies that registered between July 1, 2022 and the end of September this year are eligible for these conditions.
He said eligible employees must be at least 30 years old and have paid pension contributions for at least 24 out of the 36 months since October 1, 2022.
“If NSSF members were registered in October and reach the retirement age of 60 after just two years of contributions, then the NSSF will automatically add another 15 years worth of contributions,” he noted.
Other benefits of the special pension provisions include twice-monthly pension payments for life and free medical treatment at the fund’s partner hospitals.
“Civil servants can apply for their pension once they reach 60, provided they have made at least 12 months of payments. Of course, they will receive a larger sum if they have made more contributions,” said Bora.
He explained that those who had made less than 12 months contributions would receive the full amount they had contributed, but would not receive twice-monthly payments or free healthcare.