Sri Lankan government to present private sector pension bill in parliament next month

The Sri Lankan government has decided to present the legislation on the proposed private sector pension scheme to parliament next month.

Labor Minister Gamini Lokuge has said the Finance Ministry was currently finalizing the amendments to the scheme.

He explained that once the amendments are finalized, they would be discussed with the trade unions before presenting the bill to parliament.

The government was to implement the pension scheme on May 1 this year, but had to postpone it following protests by trade unions and private sector employees claiming the scheme was not beneficial to the workers.

The government later agreed to introduce several amendments.

President Mahinda Rajapaksa has vowed to implement the pension scheme to the private sector.