Lankapage Logo Recent Top Stories
Go Home Home Serving the Sri Lankan community globally since 2000
go to

Leading News from Sri Lanka::

* Sri Lanka to introduce amendments to the EPF Act next year
Fri, Dec 16, 2011, 01:28 pm SL Time, ColomboPage News Desk, Sri Lanka.

Dec 16, Colombo: Labor Minister of Sri Lanka Gamini Lokuge says the government would present amendments to the Employees' Provident Fund (EPF) Act to parliament next year.

Lokuge told ColomboPage that the amendments are to provide a loan facility for the account holders of the EPF, the retirement fund of the country's workforce, at concessionary rates if they have over Rs. 300,000 in their accounts, to introduce a social insurance and a pension scheme and to find investments to construct a building for the Pension Fund.

The Minister denies the allegation made by the main opposition United National Party (UNP) in parliament that the government was trying to re-introduce the controversial private sector pension scheme that was withdrawn earlier in the year.

Lokuge observed that the amendments have been agreed to by all stakeholders, received approval by the parliamentary consultative committee and the Cabinet of Ministers.

"It is the UNP that has said they were agreeable to a private sector pensions' scheme if introduced with good amendments. However, the government would consider only if the UNP makes a proposal," Lokuge added.

ColomboPage - Recent 10 Stories
SAITM Medical faculty will be abolished after integration of students to KDU - Higher Education Minister
-- [4 minutes ago]
Sri Lanka receives the US$ 584 mn third payment of Hambantota Port deal from Chinese company
-- [1 hour and 23 minutes ago]
Sri Lanka committed to eliminate barriers to business environment, facilitate investments- Finance Minister
-- [1 hour and 55 minutes ago]
IMF expects Sri Lanka's economy to gradually normalize but says vulnerable to shocks due to high debt
-- [3 hours ago]
Pakistan reaches out to uplift Sri Lankan youth through scholarships
-- [5 hours ago]
Sri Lanka government urges people to share information on missing persons with the OMP
-- [5 hours ago]
Striking postal employees to launch indefinite fast from today
Retired Senior DIG Ravi Waidyalankara re-appointed to head FCID
Commercial Bank adjudged Best Internet Bank in Sri Lanka for 3rd year in a row
Two Australians killed in road accident on expressway in Sri Lanka

Copyright © 2000, 2010 by (LLC) :
The news and other contents on ColomboPage are copyrighted property of, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.