Agreement Signed for Structured Retirement Fund Management
Citizens Investment Trust (CIT) and Nabil Bank Limited have signed an agreement to manage the retirement and gratuity funds of the bank’s employees through CIT.
The agreement was signed by CIT Director Chhabiraman Adhikari and Nabil Bank Human Resources Head Divash Karki.
Retirement and Gratuity Funds to Be Managed by CIT
Under the agreement, the provident, gratuity, and additional retirement funds of Nabil Bank employees will be managed by CIT. Employees will regularly contribute to the fund during their service period, and upon retirement, they will be able to receive their accumulated funds after completing the required procedures.
The arrangement aims to ensure more systematic, transparent, and professionally managed retirement fund operations.
Employees to Receive Returns on Savings
As per the agreement, employees will not only receive their deposited contributions but will also benefit from interest, investment returns, and other financial services provided through the fund.
This is expected to enhance financial security for employees after retirement and ensure better long-term fund growth through professional investment management.
Strengthening Institutional Fund Management
Officials believe that channeling employee retirement funds through CIT will improve efficiency in fund administration while also increasing investment opportunities for accumulated savings.
The partnership reflects a growing trend among financial institutions in Nepal to adopt structured and centralized retirement benefit management systems.
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