Pension Plans

Over 3000 employees from the three state banks and the Central Bank want the government to reintroduce an employer contributed pension scheme. Over 3000 employees from the three state banks and the Central Bank want the government to reintroduce an employer contributed pension scheme. A Tuesday lunch hour protest saw staff from people’s bank, Bank of Ceylon, National Savings Bank and the Central Bank staff carry placards and shout slogans in front of the People’s Bank head office in Fort.

Union Chairman Sanjy Rathnagolla said “We want the government to reinstate pension benefits of all bank staff recruited since 1996, with all areas since then.”

A Finance Ministry communiqué to the banks in 1996 scrapped the employer contributed pension scheme- with some 3000 bank employees recruited from that year left out of the retirement benefit.

Instead the government has advised the bank staff recruited since 1996 to opt for an employee contributed pension scheme, a proposal Rathnagolla says the union is not willing to accept.

Rathnagolla claims that the Finance Ministry letter has no legal baking and that it cannot hold back the ban