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A Jagath D Dias Director General of Pensions Department of Pensions Ministry of Public Administration
A Jagath D Dias Director General of Pensions Department of Pensions Ministry of Public Administration
A Jagath D Dias Director General of Pensions Department of Pensions Ministry of Public Administration
A Jagath D Dias Director General of Pensions Department of Pensions Ministry of Public Administration
A Jagath D Dias Director General of Pensions Department of Pensions Ministry of Public Administration

A Jagath D Dias Director General of Pensions Department of Pensions Ministry of Public Administration & Management Sri Lanka

Ministry of Public Administration & Management Sri Lanka 1 – 5 August 2016 . Asia-Pacific Social

1 5 August 2016.

Asia-Pacific Social Protection Week Asian Development Bank, Manila, Philippines.

DISCLAIMER: This presentation does not necessarily reflect the views of ADB or the Government concerned, and ADB and the Government cannot be held liable for its contents.

Pension Coverage in Sri Lanka   — Central Government Officer’s Pensions — Provincial & Local

Pension Coverage in Sri Lanka

 

Central Government Officer’s Pensions

Provincial & Local Government Officer’s Pensions

Judicial service Officer’s Pensions

——Armed Services Pensions.

Government

Widows, Widower’s and Orphans Pensions

Sector

——Private School and Piriven Teacher's Pensions

Public Service Provident Fund

Pensions for Parliamentarians

Pensions for private staff to the Govt. Minister’s “Ta” Schedule.

 

Bankers Pension Scheme (Including State Bank)

Private Sector

Employees Provident Fund, Employees Trust Fund and other

Social Insurance Scheme

Informal Sector

Farmer’s/ Fishermen's, Migrant workers and Self Employed Pension Scheme

Pension Coverage… Contributory Pensions  Widows , Widower’s & Orphans pensions.  Public Service Provident

Pension Coverage…

Contributory Pensions

Widows , Widower’s & Orphans pensions.

Public Service Provident Fund.

Private Sector Funds (EPF, ETF & Bank officer’s etc.).

Informal Sector Pension Schemes.

Non Contributory Pensions

Government sector Civil, Armed Services and other pensions.

Eligibility & Entitlement for Pension

Permanent & Pensionable Officers in Public service Optional retirement 55 age Compulsory retirement 60 age *85% -75% & 90% - 85% Depend on basic salary and service period. Basic pen. + COL

Armed Services Compulsory retirement 20/22 years service or *55 age or completion of service period.(rank) 55% - 85% & 60% - 88% Basic pen + COL +GCA Widows & Widowers Pension Death of Spouse * Basic Pen + COL Widows & Widowers Orphans/ Disable Pension

Death of Parents * Basic Pen + COL

Judicial Services Higher Courts & Other judicial Officers 55age to 65 age *75% - 90% Basic pen + COL

Public Service Provident Fund

Non Pensionable Officers Payment of Benefits *Member Con + Govt. Con + Interest GCA - Good Conduct Allowance

COL - Cost of Living Allowance

*Subject to certain condition

Legal Coverage for Public Sector  1890 : Widows & Orphans Pensions Ordinance and Amendment

Legal Coverage for Public Sector

1890 : Widows & Orphans Pensions Ordinance and Amendment Acts.

1910 : Public and Judicial officials (Pension) Ordinance and Amendment Acts.

1934 : Minutes of Pensions and Amendments.

1942 : Public Service Provident Fund Ordinance And Amendment Acts.

1953 : Private School and Piriven Teachers Pension Act and Amendment Acts.

1970 : Widows and Orphans (Armed service) Act and Amendment Acts.

1974 : Local Government Service Pensions Act.

1977 : Parliamentarians Pensions Act

1981 : Minutes of the Armed Service Pensions and Gratuities & Amendments.

1983 : Widower’s and Orphans Pensions Act and Amendment Acts.

1998 : Widower’s and Orphans (Armed Service) Pensions Act & Amendment Acts.

Establishment Code and Financial Regulations in DSR of Sri Lanka. Legal Coverage for Private & Informal Sector

1958 : Employees Provident Fund Act and Amendment Acts.

1980 : Employee Trust Fund Act and Amendment Acts.

1987 : Farmer’s Pension and Social Security Benefit Act and Amendment Acts.

1990 : Fishermen’s Pension and Social Security Benefit Act And Amendment Acts.

1996 : Social Benefit Board Act and Amendment Acts.

Approved Private Provident Fund under the purview of Commissioner General of Labor.

Benefits under the current pension system(Public Sector) One time Payments (Civil & Armed Services) 
Benefits under the current pension system(Public Sector) One time Payments (Civil & Armed Services) 
Benefits under the current pension system(Public Sector) One time Payments (Civil & Armed Services) 
Benefits under the current pension system(Public Sector) One time Payments (Civil & Armed Services) 

Benefits under the current pension system(Public Sector)

One time Payments (Civil & Armed Services)

Commuted Pensions Gratuity

Death Gratuity

Service Gratuity

Daily Service Gratuity

Special Compensation

Exgratia Payment

Charitable Allowance

Monthly Benefits (Civil & Armed Services)

Civil Pension

Service Pension

Widows Pension

Widower’s Pension

Widows/Widower’s Orphans pension

Widows/Widower’s Disable pension

Armed Services Dependent Allowance

Police & Armed Services Disable Pension

Civil Compensation Pension

Good Conduct Allowance (Police & Armed Services)

Annual Government Cost of Pensions   2010 2011 2012 2013 2014 2015 Item Rs. Rs.
Annual Government Cost of Pensions   2010 2011 2012 2013 2014 2015 Item Rs. Rs.
Annual Government Cost of Pensions   2010 2011 2012 2013 2014 2015 Item Rs. Rs.
Annual Government Cost of Pensions   2010 2011 2012 2013 2014 2015 Item Rs. Rs.

Annual Government Cost of Pensions

 

2010

2011

2012

2013

2014

2015

Item

Rs.

Rs.

Rs.

Rs.

Rs.

Rs.

(Billions)

(Billions)

(Billions)

(Billions)

(Billions)

(Billions)

Civil

           

Pensions

73.2

80.3

90.5

104.0

117.9

129.7

W&OP

           

Payment

17.6

18.6

20.1

18.6

18.8

35.2

Death &

           

Disable

10.5

13.3

14.7

16.1

18.2

23.4

Payment

Total

101.3

112.2

125.3

138.7

154.8

188.3

Annual Government Cost of PSP Fund, Parliamentarian,

Farmer’s & Fishermen’s Pension Schemes

Item/Year

Type

2014

2015

Govt. Contributions Rs. Mn.

PSPF

747

2,029

No of Contributors

PSPF

230,837

232,606

No of Contributors

Farmers

959,254

959,254

 

Fishermen's

68,738

68,740

No of Pensioners

Farmers

123,768

136,421

 

Fishermen's

2,913

3,322

Payments Rs. Mn

Farmers

2,130

2,381

 

Fishermen's

43

46

No of Parliamentarians

 

470

470

Cost Rs. Mn.

 

168

180

Government Cost for Pensions 2016  DoP Average Monthly Pension (570,000 Pensioners) and Gratuity (2,500

Government Cost for Pensions 2016

DoP Average Monthly Pension (570,000 Pensioners) and

Gratuity (2,500 Pensioners) Bill Rs. : 16 billion

DoP Annual Pension Bill Rs.(Estimated): 200 Billion

Percentage of Basic pension (per month) 72%

Percentage of Allowance (per month) 28% Pension cost on Informal sector Rs. (Esd) : 2.9 Billion

Share of GDP : 1.80%

No of people are eligible of pension scheme 5 million

1.4 Million Public Sector Employees are effectively covered by a pension scheme.

Old age dependency ratio 15% in 2015, 17 % 2020 (Esd.)

Collection of W&OP Fund contribution Rs.(Esd.) : 16.5 Billion

PSP Fund Compulsory Contribution from members Rs.(Esd.) : 850 Million.

Proposals  Simplifying the present pension system.  Minimize the government burden on pension. 
Proposals  Simplifying the present pension system.  Minimize the government burden on pension. 
Proposals  Simplifying the present pension system.  Minimize the government burden on pension. 
Proposals  Simplifying the present pension system.  Minimize the government burden on pension. 

Proposals

Simplifying the present pension system.

Minimize the government burden on pension.

Introduce pension for all concept and welfare

management system.

Establish self managed contributory pension fund

and governing body to manage the pension fund. Minimize sustainability issues in informal sector pension schemes.

Thank You