Citizen Investment Trust Launches Online Registration Service For Citizen Pension Scheme

January 11, 2021 | Investopaper

Citizen Investment Trust, popularly known as Nagarik Lagani Kosh has launched an online registration service for citizen pension scheme. With the launch of the online registration service, those who want to participate in it do not have to go to the office of the CIT.

To participate in the scheme, go to nlk.org.np/home and then to Register For Penson Yojana and take the online registration service by filling up the necessary description. As the scheme is designed to involve all Nepalis, those who want to participate from the place where the internet service is available will be able to participate easily.

Workers and employees involved in various associations and institutions established in accordance with the prevailing law, general public in self-employment and Nepali citizens in non-residential and foreign employment can participate in the scheme.

The savers participating in the scheme will be able to deposit a minimum monthly amount of Rs. 500 to 10 percent of the maximum income. There is also a feature of depositing money on monthly, quarterly and half-yearly basis based on the income of the saver.

To receive the pension, the saver must be over 60 years of age and have contributed at least 15 years. The saver can withdraw the amount before 15 years or even after 15 years with the interest and return.

Citizen Investment Trust has stated that the participants can get pension for the rest of their life every month which is calculated by dividing the total amount of the savings, interest and return on investment of the fund by 170.

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