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Social Security Fund Act for foreign employees

ECONOMYNEXT- A committee to draft an act to establish a social security fund for Sri Lankans employed abroad has received cabinet approval.

Co-cabinet Spokesman Bandula Gunawardene told reporters today that this decision was taken in accordance with an election promise made by President Gotabaya Rajapaksa to create a pension scheme for the foreign employed.

According to estimates, about 1-1.4 million Sri Lankans are employed in foreign countries and contribute about Rs 7 to 8 billion annually to the economy of the country, he said.

However, said Gunawardena, when they return to Sri Lanka, old and unable to find work, they do not receive a pension to look after themselves.

“Foreign workers and their dependents will be looked after through this new act,” he added. (Colombo/Feb28/2020)

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