Lankapage Logo Recent Top Stories
CP 14 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* 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).

ColomboPage - Recent 10 Stories
SLFP condemns NP Chief Minister's campaign, says need to rethink powers to provinces in new constitution
-- [55 minutes ago]
Sri Lanka's Central Bank ensures foreign investors get full control of troubled CIFL
-- [1 hour and 23 minutes ago]
Health Ministry agrees to demands of Heart and Lung Observers Association
-- [1 hour and 44 minutes ago]
Two Bangladesh naval ships arrive at Sri Lanka port on goodwill visit
-- [2 hours ago]
Suspect in the murder of Lasantha Wickrematunge further remanded
-- [2 hours ago]
PM hopes to reach agreements with New Zealand benefitting Sri Lanka during visit
-- [2 hours ago]
Notices issued for over 950 premises for mosquito breeding on first day of Dengue Control Week
-- [9 hours ago]
Sri Lanka Bar Association to take legal action against media organizations for slandering judges
Youth Business Sri Lanka partners with GS1 Lanka, to help young entrepreneurs
Sri Lanka's new High Commissioner to India pledges to enhance the relationship between two countries

Copyright © 2000, 2014 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, 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 LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.