Legislation to set up private sector pension schemes in Sri Lanka

Apr 08, Colombo: The government has presented a legislation that will help to establish pension schemes for employees in the private sector, expatriate workers and self-employed in Sri Lanka.

The Bills that have been presented to the parliament today are the Employees’ Pension Benefits Fund Bill, the Overseas Employees’ Pension Benefits Fund Bill, and the Pensions (Consequential Provisions) Bill.

The proposed legislation is part of the government promised welfare schemes for the private sector employees in the country.

The government plans to set up three separate Contributory Pension Funds from May 01, 2011 for the private sector, the expatriate workers and for the self-employed Sri Lankans.

 

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