Politics · Sri Lanka Bureau
Trade unions demand government scrap tripartite EPF management plan
Labor groups and civil society organizations have called on President Anura Kumara Dissanayake to withdraw the administration's proposal to restructure the Employee Provident Fund's governance. The unions warn the tripartite management model poses significant risks to workers' pension security.
LSN Sri Lanka ·
A coalition of trade unions and civil society groups has formally requested President Anura Kumara Dissanayake to abandon the government's plan to establish tripartite management of the Employee Provident Fund (EPF).
The organizations have expressed strong opposition to the proposal, which would transfer oversight of the EPF to a board comprising representatives from government, employers, and workers. According to the groups, the restructuring would compromise the fund's independence and expose workers' retirement savings to political interference.
The unions have cautioned that implementing the tripartite management model could have severe consequences for EPF members, who depend on the fund for retirement security. They argue that the current structure has effectively safeguarded workers' contributions and that any governance changes risk destabilizing the pension system.
The objections come as the government continues to develop its policy framework on pension fund management. The issue remains contentious among labor organizations, which maintain that worker interests must be the primary consideration in any structural reforms to the EPF.
The government has not yet responded to the unions' formal petition, leaving uncertainty about whether the administration will reconsider its approach to EPF governance.