28 February, 2023
The Cabinet of Ministers has approved a proposal by President Ranil Wickremesinghe to draft a legislature to establish a National Contributory Pension Fund for new public sector employees. Employees who joined after January 2016 can also volunarily join the fund.
Accordingly, new public service employees will contribute 8% and the employers will contribute 12% for the fund.
Minister Bandula Gunawardana has said that this pension fund will allow state workers to get pensios without being a burden on the country.