CIOB unveil plans to launch pension scheme for construction industry workers | Daily News

CIOB unveil plans to launch pension scheme for construction industry workers

Dr. Rohan Karunaratne, Chairman, CIOB explaining the action plan of the pension scheme for workers actively engaged in the building sector.
Dr. Rohan Karunaratne, Chairman, CIOB explaining the action plan of the pension scheme for workers actively engaged in the building sector.

As the premier professional body representing Sri Lanka’s construction industry, the Ceylon Institute of Builders (CIOB), has taken the initiative to introduce a pension scheme for workers actively engaged in the building sector. The initial round of discussions on the proposal was held recently at the Nawaloka Auditorium with the participation of businessmen and professionals representing the construction industry plus a sizable number of workers.

Expressing his views on the action plan, Dr. Rohan Karunaratne, Chairman of the CIOB, said: “Apart from leading professionals such as engineers and architects in Sri Lanka’s construction industry, there is a considerable segment of ordinary workers actively engaged in this key field. Among the ground level workforce are masons, carpenters, electricians, plumbers and helpers, who render assistance during constructions. Without the support of this overall category of workmen, the building industry could not move forward. However, no progressive steps have been taken so far to secure the future of these ordinary workers in the industry, either by way of a pension scheme or through Employees Provident Fund (EPF) benefits.’’

“The existing vacuum is an obstacle to the progress of these workers in terms of their respective vocations and also to the industry as a whole. The construction industry is a sector particularly prone to sudden workplace accidents. However, in the event a worker falls victim to an accident, he and his family are deprived of a source of sustenance. This is a critical situation. Taking into consideration the prevailing ground situation confronting Sri Lanka’s construction industry, the CIOB is now in the process of formulating a pension scheme for the benefit of these ordinary workers down the line, who play a vital role for the greater good and progress of the industry.’’

“This is not a task we could accomplish by ourselves. The support of private sector construction companies as well as the government, is definitely of significance to translate the proposal into action and ensure its successful implementation. We are now working on drawing the support of the private and government sectors towards this end.”

In terms of the proposal, a small percentage of the salaries of workers would be deducted for the pension scheme in keeping with their service and experience in the field, while the employer would also make a financial contribution to supplement it. It is hoped to implement the proposed pension scheme through the aegis of the CIOB. The dearth of ordinary workers is a grave problem and the biggest impediment faced by the building industry in today’s context. With the introduction of the proposed pension scheme, the CIOB is optimistic that more youth would find it attractive to venture into the construction industry to take up job opportunities.

The CIOB is the leader in introducing and promoting green constructions in Sri Lanka. As the premier professional body, it evaluates and awards the CIOB Green Mark certification to large-scale constructions, organizes the Green Awards ceremony annually, conducts higher training programs for executive grade officers of leading construction companies on initiating green constructions on par with international quality standards and introducing a green credit card to purchase construction materials. In addition, CIOB also publishes the ‘Construction Today’ magazine, organizes the annual World Construction Summit as well as the annual Green Constructions exhibition. 


 

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