Banking News – The Andhakar Mukti Savings and Credit Cooperative, based in Rampur Municipality, has been providing a monthly pension allowance to its senior shareholder members. Members aged 70 and above receive a monthly allowance of NPR 500 as part of this initiative.

The cooperative started the pension program in 2015 (B.S. 2072), focusing on member welfare. According to Manager Dipendra Prasad Poudel, the program is funded through a NPR 4 million pension fund, sustained by collecting NPR 500 from new shareholders under a pension savings scheme.

Last year, 128 members benefited from the scheme, with 21 more members added in the current fiscal year. The cooperative operates under the Member Incentive Policy 2018 (B.S. 2075).

As per the policy, shareholders who joined before 2015 are eligible for the monthly allowance upon reaching 70 years of age, while new members must have completed at least 10 years of transactions with the cooperative. Currently, the cooperative has over 11,000 shareholders.