New Nepal law requires kids to deposit 5-10% of income in parents’ bank account

Kathmandu, January 4

The Nepal Government is set to introduce a law which makes it mandatory for the children to deposit 5 to 10 per of their income into the bank accounts of parents to ensure their well-being.

According to the Prime Minister’s press adviser Kundan Aryal, a Cabinet meeting has decided to present a Bill on amendment to the Senior Citizen Act-2006.

“The main objective is to ensure the security of senior citizens,” Aryal said.

“There have been reports that people who are rich have been neglecting their parents. We are introducing the law to discourage the practice and ensure security for elderly people,” Aryal said.

According to the Senior Citizen Act-2006, people aged above 60 years have been defined as senior citizens. 

Those failing to adhere to these provisions will face a penalty. “It will be deposited in the accounts of the parents concerned,” he said. — PTI