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* Sri Lanka Marxists to oppose the private sector pension schemes
Mon, Apr 18, 2011, 10:50 am SL Time, ColomboPage News Desk, Sri Lanka.

Apr 18, Colombo: Sri Lanka Marxist party Janatha Vimukthi Peramuna (JVP) says that the party trade unions will lead the employees against the proposed pension scheme for the private sector employees.

JVP Colombo district MP Sunil Handunnetti says that the party will vote against the two bills regarding private sector pensions to be brought in the parliament next week.

The bills are named as Employees' Pension Benefits Fund Bill, the Overseas Employees' Pension Benefits Fund Bill, and the Pensions (Consequential Provisions) Bill.

JVP charges that the government has made compulsory for the private sector employees to join the pension schemes and the gratuities transferred to the pension funds.

JVP also says that the 20 to 35 percent of the salary given as pension is not sufficient. It also points out that the private sector pension is paid from the age of 60 despite the official retirement age is 55.

JVP also says that the unlike the public sector pension scheme, the pension is not paid to the wife of the employee in case of the demise of the employee.

The government plans to set up three separate Contributory Pension Funds from May 01, 2011 for the private sector, the expatriate workers and for the self-employed.

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