Friday, 25 December 2020 01:17 -
Minister holds discussions with trade unions and EFC representatives
Says those wanting to retire at 55 years should be allowed, but 60 made mandatory age of retirement
Asserts EPF/ETF funds can be withdrawn by employees who choose to retire at 55 years
Points proposal to increase retirement age due to high life expectancy rates
EFC says employing workers after 55 years in some industries will be difficult
Trade unions, EFC can submit proposals to Labour Commissioner for amendments to law
Labour Minister Nimal Siripala De Silva
The Labour Ministry has initiated discussions with relevant stakeholders on the proposed amendments to the Employees’ Provident Fund (EPF) Act to increase the age of retirement in the private sector from 55 to 60 years.