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FeaturesNewsNEW PENSION SCHEME WILL ROB THE EMPLOYEES IN BROAD DAY LIGHT – TRADE UNIONS

NEW PENSION SCHEME WILL ROB THE EMPLOYEES IN BROAD DAY LIGHT – TRADE UNIONS

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“In Sri Lanka there are funds collected by employees after working for 30 or 40 years. This is an attempt by the government to collect the money in the ETF and EPF, put it into one account to invest and fall into trouble.” said the Secretary Trade Union Federation, Saman Rathnapriya.

April 26, 2011 : The United Federation of Labour (UFL), which consists of 26 Trade Unions, assembled in Colombo today, to object the proposed pension fund for the private sector.

UFL organized a seminar at the Jayawardene center in Colombo.

“In Sri Lanka there are funds collected by employees after working for 30 or 40 years. This is an attempt by the government to collect the money in the ETF and EPF, put it into one account to invest and fall into trouble.” said the Secretary Trade Union Federation, Saman Rathnapriya.

Commenting on the proposed pension bill, the Joint Secretary of Free Trade Zones and General Services Employees Union, Anton Marcus said that the new pension scheme will rob the employees in broad day light.

“One section of this act states that if irregularities occur in this fund, it will considered an expense and the employees will have to pay it. So that means, if the government plays around with these funds, it is the employees who will have to pay.”

“This is an amazing pension scheme. This is robbing the employees in broad day light.” said Anton Marcus.

Meanwhile the General Secretary of the Ceylon Mercantile Union, Bala Thampo also commented on the bill.

“No matter how this bill is amended, if the primary principals are not resolved, we have to object to it on behalf of the people. That means if they even take a cent from those who live on the EPF and ETF and introduce a bill that will prevent them from getting money, it has to be rejected.” said Bala Thampo.

Following the convention members of the United Federation of Labour engaged in a protest at the Lipton circus.

Meanwhile a special meeting of the National Labour Advisory Council (NLAC) was held this evening to discuss the proposed pension fund for the private sector.

Trade Unions presented a number of amendments to the bill in question at the meeting held under the patronage of the Minister of Labour and Labour Relations, Gamini Lokuge and Secretary to the Ministry of Finance, P.B. Jayasundara.

Accordingly the Minister Gamini Lokuge stated that the Government has decided to present the bill with the relevant amendments
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