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* Marxist party questions government on replacing pension gratuity scheme with bank loans
Thu, Mar 6, 2014, 12:21 pm SL Time, ColomboPage News Desk, Sri Lanka.

Mar 06, Colombo: Sri Lanka's Marxist party Janatha Vimukthi Peramuna (JVP) has questioned the government about the move to replace the existing pension gratuity payment scheme for state employees with bank loans.

JVP leader Anura Kumara Dissanayake making a special statement in parliament said that the Department of Pensions was making arrangements to provide a loan from a state bank instead of the gratuity paid to state employees upon retirement.

He explained that the pension gratuity allows the retiree to obtain a lump-sum equal to two years' salary at the time of retiring and allows the government to recover it in interest free instalments spanning over a period of 10 years.

He noted that the government is now trying to replace the system with a bank loan.

According to Dissanayake, seeking the total number of state employees yet to receive the pension gratuity and the reasons for such delays as well as the model applied for the proposed bank loan system intended to replace the pension gratuity.

Public Administration and Home Affairs Deputy Minister Wijaya Dahanayake has said he would respond to Dissanayake's question on Friday (7).

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