Plan mooted to extend retirement age to 63 | Daily News

Plan mooted to extend retirement age to 63

The Government is planning to extend the retirement age for public and private sector employees to 63 years.

A proposal has been submitted to the Government and a special committee will be appointed to obtain recommendations, Public Services, Provincial Councils and Local Government Minister Janaka Bandara Tennakoon stated.

He said that about 653,000 Sri Lankans are receiving their pensions now, and that 85 per cent of them are paid by the Government.

He was speaking at a media briefing at the Government Information Department yesterday.

The National Retirement Day falls on October 8. The Sri Lanka Department of Pensions has organised a celebration to mark its 50th anniversary this year, but the Department has taken steps not to hold it in the prevailing situation.

Pensions Department Director General Jagath Dias said that the Government spends about Rs. 300 billion annually on pension payments.

Pensions Department Additional Director General K.R. Padmapriya said that under the 'Retirement for All' Scheme, the Government considers to raise the retirement age of public and private sector employees to 63 years.

The introduction of a pension scheme for the private sector, securing the public service pension scheme and ensuring that all those who are not covered by a pension receive a pension benefit, are some of the other main features of the programme.

He said that the proposal of the Department of Pensions will be submitted to the Government along with the views of all parties.

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