Social Solidarity Fund of Nouvelle Alexandrie
| Social Solidarity Fund of Nouvelle Alexandrie | |
| Type | Public financial institution |
|---|---|
| Key people |
Emmanuel Leclerc, Chairman Sofía Bautista, Managing Director |
The Social Solidarity Fund of Nouvelle Alexandrie (SSFNA), known in French as the Caisse de Solidarité Sociale de Nouvelle Alexandrie (CSSNA), is a public financial institution in Nouvelle Alexandrie that manages the national Social Solidarity Trust Fund. The fund was established by the government of Nouvelle Alexandrie in 1685 AN as part of the institutions built as part of the New Prosperity Plan to ensure the financial stability of the country's social security system and to provide regular allocations to qualifying citizens and residents.
The SSFNA operates under the oversight of the Federal Revenue Authority of Nouvelle Alexandrie, which collects payroll taxes and allocates them to the trust fund. The SSFNA's primary function is to purchase government securities, the interest income from which is used to fund the monthly allocations to qualifying individuals.
As of 1705 AN, the SSFNA has amassed assets estimated to be worth WAE€400 billion, making it a significant player in the financial market of Nouvelle Alexandrie. The institution is known for its prudent investment strategies, which prioritize long-term stability and growth over short-term gains.
The SSFNA is governed by a board of directors, led by a Chairman and a Managing Director. The Chairman is appointed by the government, while the Managing Director is selected through an internal process within the organization.
The SSFNA is considered an essential pillar of Nouvelle Alexandrie's welfare system. Its role in ensuring the financial sustainability of the social security system and its commitment to providing monthly allocations to citizens and residents demonstrate its crucial function in promoting social solidarity and welfare in the federation.
