June 07, Colombo: The Labour Ministry of Sri Lanka says that a new pension scheme is being drafted for the private sector employees and the government has made a formal request to the International Labor Organization (ILO) to conduct a study on the country’s private sector to help introduce a proper pension scheme for the sector.
Labour Minister Gamini Lokuge has told the media that the Ministry is to first conduct a study to decide the needs of the people.
The Minister says that the study would be conducted once the situation in the free trade zones (FTZs) returned to normal.
According to Lokuge, the ILO would be asked to conduct the feasibility study after completing the Labour Ministry’s study.
The government maintains that it is committed to introducing a pension scheme to the private sector and would continue working for the goal.
The new bill is to be drafted by the Ministry of Labor instead of the Ministry of Finance that drafted the previous bill. Certain points in the withdrawn bill would also be included in the new bill.
The government says it will consult the employers and the trade unions of the workers in designing the pension scheme.
Once compiled, the draft will be submitted to the National Labor Advisory Council for discussion and will be tabled in parliament, says the Ministry.