May 04, Colombo: Retirement Planning, a relatively underdeveloped sphere in Sri Lanka, has become the latest area of focus for life insurance.

Ceylinco Insurance, following the success of its ‘Life Insurance Week’ programme in February this year, has now announced an initiative to declare a ‘Retirement Planning Month’ to promote retirement planning in the country.

Scheduled to be observed from May 1 -31, the ‘Retirement Planning Month’ will be preceded by mass media campaigns focusing on the need for retirement planning, targeting existing policyholders as well as all working people in general, the company said.

Explaining the reasons for the company’s decision to launch this initiative, Ceylinco Life’s Chief Executive Director R Renganathan said “The penetration of retirement planning in Sri Lanka is even lower than that of life insurance, even though the population is ageing. We believe greater public awareness about the need for retirement planning is urgently needed.”

During the Retirement Planning Month, nearly 4,000 Ceylinco Life personnel will be deployed island wide to discuss retirement planning with people of all walks of life.