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Agricultural and Agrarian Insurance Board in financial crisis

19 January 2012 04:54 pm - 2     - {{hitsCtrl.values.hits}}

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The Agricultural and Agrarian Insurance Board is in a severe financial crisis due to the inability for the past two months, to provide pensions for farmers Parliament was informed today.

JVP parliamentary group leader Anura Kumara Dissanayake said that there around one million farmers making contributions to the pension fund, and around 100,000 receiving monthly pension benefits. However, he said that none of these farmers had received their monthly payment for the months of November and December of last year.

“Also, there is uncertainty over the payment for January, this year. The Board’s chairman, Ms. Sumana Ariyadasa stated that the Treasury has not allocated enough money for the payment of pension benefits entitled to farmers,” he said.

As a result of this crisis, he said that the regional officials of the Board had become helpless in the face of farmers making contributions.

“The confidence placed in the insurance scheme has been eroded among contributors, beneficiaries and officials,” he said.

In reply, Senior Minister Dr. Sarath Amunugama said that there was a crisis in this regard, and the government would address it without any impact on the parties concerned.

The Minister said that all the institutions involved in such social insurance schemes would be brought under one umbrella as part of this exercise.

“We will not deprive benefits to anyone,” he said.

However, he said that he could not say as to when insurance payments due for the last two months could be given to the beneficiaries. (Kelum Bandara)

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  • Calistus Jayatilleke Friday, 20 January 2012 05:42 AM

    A perfect example of how the government-sponsored Pension Funds operate : so it is not surprising that the private sector workers are protesting tooth and nail against such bogus schemes which will ultimately deny them even the benefit of their EPF contributions.

    dinapala Friday, 20 January 2012 08:22 AM

    this is very important article.


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