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)