HomeBreakingA Single Fund for Every Employer Combining EPF, ETF, and Other Funds

    A Single Fund for Every Employer Combining EPF, ETF, and Other Funds

    Manusha Nanayakkara, the Minister of Labor and Foreign Employment, says that steps will be taken to implement a new social security program to cover the entire workforce in Sri Lanka.

    He pointed out that a common security system will be prepared by combining all the social protections such as the Employees’ Trust Fund and the Employees’ Provident Fund that have been in operation so far.

    The minister also mentioned that steps will be taken to submit the report of the committee set up regarding the establishment of this social security program to the cabinet within the next three months.

    The minister stated this in the meeting held today (10) with water pipe technicians and painters.

    The minister also said:

    “The program has now started to file all working people who do not contribute to a social security system into a social security network. The first meeting of the related committee was held recently.

    After three to four months, we have to present to the cabinet a system for including all the Sri Lankan workforce in a social security system. We are currently doing related activities.

    Here, we are working to establish an insurance system in case of job loss, a system to take care of them when they are unemployed. For this purpose, we have made a good study of the working methods of foreign countries like Indonesia, America, Australia, and we have prepared to take appropriate decisions to get the support of the International Labor Organization.

    After this, we hopeto implement a common program for all working people in the country without having a separate funds called EPF, ETF, as well as those other insurances, agricultural insurances and different insurance systems. All the necessary arrangements are being made for that. We are working to prepare these within three to four months.”

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