Sri Lanka pension bill put on hold

The Sri Lankan govt postponed the parl presentation of a pensions bill.

Colombo: The Sri Lankan government on Wednesday
postponed the parliamentary presentation of a controversial
pensions bill concerning private sector employees.

The chief government whip and minister Dinesh
Gunawardena told parliament that in view of the court action
filed, the presentation of the bill and three further
enactments were being delayed.

Parliament was to debate the Employees Pension
Benefits Fund Bill and the Overseas Employment Pension
Benefits Fund today.

But the trade unions filed action in the Supreme
Court claiming the bills were inconsistent with the

Trade unions and employers have objected to the laws
which make it mandatory for both the employer and the
employee to pay two per cent of the monthly gross salary to
the Fund while ten per cent of the gratuity payable at the
termination of employment must also go to the Fund.

At the age of 60, employees would receive 15 per
cent of their monthly salary as a pension for contributions
made for 10 to 19 years.

Although the government has tried to make out the
new scheme as an addition the trade unions remain unconvinced.
The unions want more consultations to weed out dangerous

They held talks with President Mahinda Rajapaksa
yesterday but the deliberations were inconclusive.