Sri Lankan government introduces new retirement scheme

The Sri Lankan government says that the proposed new retirement scheme for workers would not affect the existing provident funds.

Labor Relations and Productivity Minister Gamini Lokuge has told the local media that the introduction of a new retirement pensions system for public sector workers will not affect the Employee Provident Funds.

The Minister stated that public sector workers had no reason to worry as the government would not make any move that would not be beneficial to the workers.

According to Lokuge, the new pension scheme is to be presented to the parliament once the relevant Bill is prepared.