Separate funds for Private Pension

25 April 2011 07:00 pm - 19     - {{hitsCtrl.values.hits}}


President Mahinda Rajapaksa said that the government has decided to create three separate funds to accommodate the proposed controversial Private Pension Scheme instead of obtaining funds from ETF, EPF and Gratuity.

Accordingly, three separate funds, The Employees’ Pensions Benefit Fund, The Expatriate Employees Pensions Fund and The Self Employees Pensions Fund will be raised to cover the three categories of employees for pension benefits, a spokesman of the Presidential Secretariat said.

President Rajapaksa’s approval came following a discussion held with Trade Union representatives on the Private Pensions scheme proposed by the Labour Ministry at Temple Trees this evening.

President Rajapaksa expressed his satisfaction over the possibility of implementing a pension scheme for all those who are not entitled to a pension on retirement including semi government, private sector and those engaged in self-employment which was a long standing demand, he said. (Sandun A Jayasekera)

  Comments - 19

  • Tom Tuesday, 26 April 2011 06:06 AM

    I have been working for more than 20 years and do not want pension, just withdraw my EPF and gratuity when retire...the PAYE paid should take care of my health till I die!

    harini Tuesday, 26 April 2011 02:15 AM

    Miracle of Asia!

    Bluff Bluff Tuesday, 26 April 2011 06:47 AM

    Good marketing strategy!

    Bluff Bluff Tuesday, 26 April 2011 06:32 AM

    Show the people the formula first!

    Dammika Tuesday, 26 April 2011 02:45 AM

    Now he is eying my EPF ? (to give new vehicles to MPs?)

    Wara Wednesday, 27 April 2011 03:18 PM

    ...hand in the pocket...

    nishal Tuesday, 26 April 2011 03:57 AM

    An icing cake with stools inside.......Towards a wonder of Asia

    Sicillian Tuesday, 26 April 2011 12:37 PM

    Why don't we start a fund so that JVP can paste posters as they always do and use the same fund to clean up it again.

    Wara Tuesday, 26 April 2011 04:25 AM

    All right.. Tell us where these funds will come from and who will manage them.

    govt. pensioner Tuesday, 26 April 2011 09:28 AM

    we are already trapped. do you like

    Wara Tuesday, 26 April 2011 04:38 AM

    How are you new "Wara" ? Don't you like to have any other name than my one ??

    Wara Tuesday, 26 April 2011 04:41 AM

    For what you don't feel fishy ??

    ind Tuesday, 26 April 2011 04:42 AM

    Read the article well.

    shehandis Monday, 25 April 2011 08:01 PM

    Still something fishy !!!

    ajith Tuesday, 26 April 2011 05:09 AM

    Ali Baba and his thieves now try to rob the Private sector funds.
    They have no right to touch those funds.
    We know what these rouges are up to.

    Ruwan Tuesday, 26 April 2011 05:18 AM


    Workers who like to receive a pension scheme can get the membership of this new scheme others not.

    chenny Tuesday, 26 April 2011 05:32 AM

    Well said. The best comment so far. As workers, we have a right to decide weather to join it or not !

    Omer Tuesday, 26 April 2011 05:36 AM

    EPF - 8%
    ETF - 3 %
    New pension - 3-5 % ,so we are gng to lose 15% of the salary in addition to Payee Tax .....

    sanju Tuesday, 26 April 2011 05:53 AM

    Pls, dont touch poor peoples money.If you want to give a pension , use government funds

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