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Sri Lanka workers against new state-controlled pension fund: poll

June 12, 2011 (LBO) - A poll by Sri Lankan weekly newspaper has found that 82 percent of the respondents were against the creation of a state-controlled pension fund with private sector workers' money.
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Sri Lanka's ruling administration has temporarily withdrawn a bill to create the controversial pension fund, after protests left one worker dead from a police shooting.
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Sri Lanka already has two state-controlled retirement funds built with private sector worker money which take up to 23 percent of their monthly wages.

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The influential Sunday Times newspaper said an email and street poll of 800 respondents found that 6.9 percent were undecided and 10.

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6 percent for such a scheme.

The newspaper said comments by respondents showed there was deep distrust about state management of their moneys.

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"I do not trust the government (or any government) to manage a pension fund for the private sector," the newspaper quoted one respondent as saying. "Slowly they are trying to grab our money," said another.

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The Central Bank which manages the EPF also manages the debt for the government, creating a conflict of interest.



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In the past, two funds, the Employees Provident Fund and Employees Trus

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