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Pension fund workshops reach over three-quarters of a million workers

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Labour ministry holds workshops to explain the new pension scheme for the private sector. LABOUR MINISTRY

Pension fund workshops reach over three-quarters of a million workers

As of August 20, a total of 1,600 workshops had been held to explain the new pension scheme for the private sector, according to a top National Social Security Fund (NSSF) official.

NSSF deputy director-general Heng Sophannarith told The Post on August 21 that the 90-day campaign was making good progress, having reached 780,000 workers since its July 1 launch. The campaign is due to end September 30.

“We are receiving excellent cooperation from the owners of large factories and [manufacturing] enterprises,” he said.

“All of the employers who have registered with the NSSF for accident and health insurance will automatically be registered for the pension scheme in October,” he added.

Moeun Tola, executive director of the Centre for Alliances of Labour and Human Rights (CENTRAL), said the scheme is sure to benefit workers by providing reliable payments to them once they reach retirement age.

He wanted to see more contributions from the state, however.

“From what I understand, contributions come only from employers and employees, and nothing from the state. I think the state should contribute because they are the ones who will control these funds until the workers retire,” he said.

“All workers pay a salary tax to the state, so the state should contribute to this pension,” he said, adding that management of the pension funds must be transparent.

Cambodia has established four social security funds: one each for occupational injuries, health insurance, unemployment and the pension. The pension scheme will be the last of the four to come into service.

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