Ran Salu pension scheme to benefit over 20,000 weavers

Irangika Range

COLOMBO: Fulfilling the pledge of “Pensions for all” in “Mahinda Chinthana”, the Government has launched a new pension scheme “Ran Salu” for the benefit of over 20,000 weavers engaged in handloom textile industry, in their old age.

The scheme will be implemented by the Ministry of Textile Industry Development together with the Sri Lanka Social Insurance Board.

Textile Industry Development Minister Jayatissa Ranaweera told the Daily News that handloom weavers contribute largely to drive the national economy. “We should appreciate their input by protecting their future,” the Minister said.

These people who operate SMEs are sometimes rendered destitute and helpless when they grow old . Their future would be assured if there is some form of financial security.This pension scheme provides for this, the Minister said.

“As a responsible Government, we will never neglect these one time entrepreneurs once they become old and feeble considering their immense contribution to the country’s economy,”Minister said.

The Minister said that awareness programmes to educate weavers on this pension scheme will be implemented in district and provincial levels. Weavers whose age between 18 to 59 and their monthly gross income is Rs.3000 are entitled to the pension scheme.

The scheme comprising four stages will cover weavers who are not entitled to EPF and any other state pension scheme.Each entrepreneur will receive the pension at the age of 60. He said that the elderly population in Sri Lanka is expected to increase to 5 million within the next 10 years. They need assistance from the Government to spend the autumn of their life in comfort.

Though these SMEs are engaged in their businesses successfully in their young age, they have to depend on others when they grow old. “We have studied their grievances and decided to launch this scheme to ensure their protection and well-being.”he said.