Bounty for migrant workers
The Government is making arrangements to introduce a pension scheme
for Sri Lankan migrant workers from 2011 onwards.
Foreign Employment Minister Dilan Perera said that a viable mechanism
would be developed in consultation with relevant stakeholders to launch
the program proposed in the 2011 budget, from next year. President
Mahinda Rajapaksa who mooted the program told a group of migrant workers
sometime back that he would initiate such a program to benefit them.
He said that he had already directed the officials to provide him a
feasibility report over the issue.
Minister Perera said “The migrant workers who dedicate their young
age to strengthen country’s economy should not be left alone when they
become old . It is the responsibility of the government to take some
viable measures.”
While presenting the budget proposals for 2011 in Parliament on
November 22, 2010 the President noted, “nearly three million Sri Lankans
are engaged in overseas employment. The remittance income to the country
is expected to be nearly US $ 4 billion this year. However, there is no
proper social security system for these people when they reach old age.”
“in appreciation of the valuable contribution made by such overseas
employees, to improve country’s foreign exchange earnings, the
Government will contribute Rs 1,000 million as an initial capital for
this fund in 2011.”
President Mahinda Rajapaksa in his budget proposals proposed to set
up an Overseas Employees’ Pension Fund (OEPF). Each employee is required
to contribute at least Rs 12,000 per annum to this fund. The
contribution can be made in stages during the year. Each employee must
contribute for a minimum period of two years.
The Pension will be paid after reaching the age of 65 years in the
case of men and 60 years in the case of women. The Foreign Employment
Bureau will transfer its unused funds to this pension fund. The proposed
pension scheme is expected to benefit over one fifth of Sri Lanka’s work
force which is consisted of people working overseas.
Sri Lankans migrating for viable employment has shown rapid growth in
recent times. At present the annual outflow is over 250,000. The migrant
worker fraternity is also the country’s largest foreign revenue earner
and contributes over 35 per cent of Sri Lanka’s foreign exchange
earnings.
RS |
