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Draft Bill on extending retirement age of private sector employees to be presented in Parliament

12 October 2021 12:14 pm - 4     - {{hitsCtrl.values.hits}}

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The Cabinet approval was granted to present in Parliament the minimum retirement age for private sector employees Act which proposed to extend the retirement age of private sector employees to 60 years, the Government Information Department said. 

The Cabinet approval was granted on 23.03.2021 to prepare a Bill to amend the existing minimum age limit for retirement of private sector employees.

The bill prepared accordingly has been further discussed with the participation of all relevant parties in the Committee on Study on Policy  or Legal Matters Affecting the Business Sector chaired by the Prime Minister. 

The bill has been prepared by including provisions to extend the retirement age to 60 years with respect to employees who have not attained the age of 52 years on the effective date of the proposed Act and in the case of employees aged 52 years or above on the effective date of the proposed Act. to employ them under 3 age groups up to a maximum age of 59 years. 

The cabinet of ministers has approved the proposal presented by Minister of labour to present the minimum retirement age for private sector employees Act prepared by the legal draftsman in parliament for approval.

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See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

  • Nuwan Tuesday, 12 October 2021 12:43 PM

    So private sector has to work longer so that the pin padi karayas can keep getting a pension?

    Lunatic Tuesday, 12 October 2021 12:48 PM

    Excellent thinking! Extend the retirement age, then there won't be an unemployment problem in the country.

    Kikazaru Tuesday, 12 October 2021 04:37 PM

    As in the US remove the retirement age.

    kamal Wednesday, 13 October 2021 02:48 AM

    Government has no business setting retirement age for private sector. Private employees should be able to work as long their employer willing to keep them


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