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  • NSSF PLAN TO LAUNCH SOCIAL SECURITY SCHEMES ON PENSION IN THE UPCOMING FUTURE

    Phnom Penh—On Friday morning of 15 November 2019, H.E. Ouk Samvithyea, Delegate of Royal Government in charge as Director of NSSF, said​​ in the opening ceremony of consultation workshop on “Launch of Social Security Scheme on Pension for Persons Defined by the Provisions of the Labour Law including Personnel Serving in Air and Maritime transportation as well as Domestic Workers” that The launch of social security scheme on pension aims to ensure finance when people reach old age by providing decent income to the persons who contribute to pension scheme in order to stop the mutual spoon-feeding leading to the increase in the household expenses.

    He also said that The Royal Government under the outstanding leadership of wisdom of Samdech Akka Moha Sena Padie Thecho Hun Sen, Prime Minister of Cambodia, issued the Rectangular Strategy Phase IV in the sixth legislature including National Social Protection Policy Framework 2016-2025 including policy of social security implementation in Cambodia​​ that is also paid high attention and urged to improve with effectiveness and efficiency in a bid to promote welfare and livelihood protection of the Cambodian people and especially for workers.

    He added that in order to enable this scheme to cover widely, the Royal Government created the new law on Social Security Schemes with 11 chapters and 107 articles by determining roles and duties of Social Security Regulator, Social Security Operator, Governing Body of NSSF, and Social Security Trustee Council that is the Investment Social Security Fund Institution in Cambodia; and it also prescribes the principles of social security schemes including Occupational Risk Scheme, Health Care Scheme, Pension Scheme, and Unemployment Scheme.

    So far, the National Social Security Fund has implemented social security schemes on Occupational Risk and Health Insurance in order to relieve numerously the hardships of workers in private sector and civil servants when facing other risks contingently. Due to the effort of the NSSF officials and staff as well as the head of the Royal Government of Cambodia, NSSF will launch social security scheme on Pension for persons defined by the provisions of the labour law including personnel serving in air and maritime transportation as domestic workers in Cambodia in early 2020 in order to reduce the hardship, especially for workers, when reach old age and lack income.

    According to the report of International Labour Organization (ILO), it shows that 6.5% of the Cambodian people are currently aged over 60. According to the current data, the population in the age range 0-14 is approximately 5 million; the population in the age range 15-54 is about 9 million; and the population in the age range over 55 is 1 million. This proportion is expected to increase about 24% equal to over 7 million persons by 2068 in next 50 years.

    He added that the sustainable socio-economic development of the Royal Government of Cambodia is the most golden time for launching the Social Security Scheme on Pension for the private sector in Cambodia in a bid to prevent from challenges because of increase in the elderly rate in the next 50 years. Therefore, the Pension Scheme will also help support the livelihoods of the elderly who do not have possibility of earning income and reduce the household expense and the spoon-feeding (parents have an obligation to raise children, whereas the children also do the same when they reach old-age).

    He also hope strongly that after the consultation workshop finishes, the participants will actively contribute to provide the important inputs additionally in a bid to better the implementation of pension scheme in private sector in Cambodia with effectiveness.

    It’s certified that this consultation workshop above was held at Dara Airport Hotel & Spa, Phnom Penh, and presided over by H.E. Ouk Samvithyea, Delegate of Royal Government in charge as Director of the National Social Security Fund (NSSF) of the Ministry of Labour and Vocational Training, with the presence of representatives of Cambodian Federation of Employers and Business Associations (CAMFEBA), Development Partners and relevant institutions amounted to approximately 100 participants.