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Pensions for private sector employees

Mar 31, 2011 8:43:42 AM - itnnews.lk

All arrangements are in place to introduce a new pension scheme for the private sector. This reference has been made by Minister Gamini Lokuge.

The Minister said a memorandum had been submitted to the Cabinet to provide a pension for employees. The Cabinet endorsed his proposal and the related Bills had been forwarded to the Legal Drafts Department. He revealed that the President’s intention was to implement this before the 1st of May and take action to grant pensions to private sector employees from the 1st of May.

Addressing a media conference the Minister pointed out that with the amendment of labour regulations, facilities will be accorded to secure the pension without delay. The District Labour Offices will be computerized. The Minister revealed of a new strategy which is planned to provide funds for surgery and sudden accidents from the Employees Provident Fund. Ministry Secretary Upali Wijeweera was also present at the news briefing.