July 11: Employees of banks and financial institutions (BFIs) as well as insurance companies, who claim to have been forced to join the contribution-based social security scheme of the government, have decided to start the second phase of protest against the Social Security Fund (SSF).

The concerned employees are going to protest against the scheme of the Social Security Fund by wearing black armbands on their hands in their offices.

They have been demanding amendment of most of the provisions of the fund and to make it optional. Earlier, the employees had protested in the office using banners with their demands written on it.

The Financial Institute Employees Union of Nepal (FIEUN), which has been leading trade unions of 48 government and private sector banks, insurance and financial institutions, issued a statement on Friday saying that the second phase of the protest would be launched from today (Sunday, July 11). Accordingly, the employees are going to protest in front of their banks with black armbands on their hands from July 11 to 14.

According to the union, it is the time to settle the annual accounts of the Government of Nepal, banks and financial institutions as mid-July approaches. Hence, a symbolic protest would be conducted with the question “Why do we disagree with the contribution-based social security scheme?”

FIEUN has also appealed to be mentally ready for the situation where additional protest programmes would be conducted in the coming days.

Stating that the government is trying to force people to participate in the social security scheme by cutting down the institutionalized service facilities, the association has asked the authorities not to create a situation to protest against the activities of the fund.