National Insurance Trust Fund in three months

Anjana SAMARASINGHE

SOCIAL SECURITY: The Government hopes to establish the National Insurance Trust Fund as proposed in the 2006 Budget within the next three months.

The main objective of the fund is to organise all the funds that are established for the assurance of different communities in society, under one roof to create a social security network.

As the first step of the project the Government will initiate the National Insurance Trust unit to serve public servants in obtaining claims for their health insurance covers.

Director of Budgets Mahinda Saliya said each year the Treasury provides Rs. 500 million to settle health claims of public servants and public servants contribute nearly Rs. 540 million through their salaries.

Till last year claims were settled by a private insurance company and the Government has decided to takeover this process from this year. There are over 700,000 public servants in the country and nearly 100 to 200 Government officials make claims per day.

The claims are paid according to a circular. It also plans to reserve dedicated wards in rural hospitals for public servants.

The main objective of this unit is to create transparency and accountability of this process, he said.

Speaking at the inaugural ceremony Deputy Minister of Finance and Planning, Higher Education Ranjith Siyambalapitiya said that they hope to establish a social security programme for migrant workers and self- employees in the future through the fund.

Deputy Secretary to the Treasury S.B. Divarathne told the Daily News that the Treasury will channel money to the fund for the social security of different segments in the country.

The Fund will cater to all communities by providing insurance schemes and pension schemes that enhance social security.