Nov 02, Colombo: Sri Lanka's monetary authority, Central Bank says the retirement fund of the country's workforce, Employees' Provident Fund (EPF) is focused on providing long term growth and advised the millions of stakeholders of the fund not to be misled by 'vituperative and negative

The Employees Provident Fund has defended its recent investment moves where it purchased shares of various listed firms through the Colombo Stock Exchange and also made investments in some unlisted firms. EPF says these investments are essential in an era where interest rates are likely to decline

Oct 30, Colombo: Labor Minister of Sri Lanka Gamini Lokuge says there is no problem in Employees Provident Fund (EPF) monies being invested in the Colombo Stock Exchange (CSE).

Oct 28, Colombo: Sri Lanka's Marxist party Janatha Vimukthi Peramuna (JVP) affiliated Inter Company Employees' Union (ICEU) says that authorities were swindling monies of the working masses in the Employees' Provident Fund (EPF).

The main opposition in Sri Lanka has accused the government of making "secret deals" in the stock market forcing the market to collapse. The United National Party (UNP) said the employees' provident fund (EPF) lost nearly SLR 30 million ($270,000) as a result of such deals in the marker

UNP parliamentarian Dr. Harsha de Silva said that the Employees Provident Fund (EPF) that functions under the Central Bank has incurred a Rs. 270 million loss last week since the Fund had not followed the proper investment procedures.

Central Bank Governor Ajith Nivard Cabral has said that they had no intention of vesting the Employees Provident in another party. He was speaking at the relocation of the EPF Department at a new venue. The Employees Provident Fund Department has been relocated in the Lloyds Building at Sir Baron

Employees Provident Fund has purchased 33 million ordinary voting shares of the Laugfs Gas PLC from Laugfs Holdings Limited. The transaction took place today and a share has been sold at Rs. 48. Consequent to this sale, Laugfs Holdings owned 260,000,000 million shares (260 Mln shares) of Laugfs Gas PLC. However, following the transaction, the share amount held ...

Sri Lanka’s Employees Provident Fund’s asset value is expected to reach the Rs. 1 trillion mark during this year, announced the Central Bank. The Bank says as of 31st of August this year the total assets of the EPF have grown up to Rs 976 billion. According to the Central Bank this is an annual

As at 31 August 2011, the value of total assets of the Employees’ Provident Fund (EPF) reached Rs. 976 billion, recording an annual growth of 14.6%. With this growth, the EPF is expected to reach the total assets value of Rs.1 trillion by end of 2011.

Management inefficiency has led to the Employees Provident Fund (EPF) failing to collect as much as Rs.666 million in terms of contributions and surcharges from employers in 2009,

The UNP says payment of salaries to employees of a state institution has been delayed while benefit payments have been delayed since 2007. UNP parliamentarian Dayasiri Jayasekera has said while salaries of employees at Salu Sala have been delayed, their Employees’ Provident Fund (EPF) and Employees

Trade unions affiliated to Samurdhi have warned of trade union action if Economic Development Minister Basil Rajapaksa fails to address the grievances of the Samurdhi employees. They have expressed concern over the job security of Samurdhi employees following the government’s decision to bring the Samurdhi Authority and a few other state institutions under the proposed ...

Aug 11, Colombo: The Employee's Provident Fund (EPF) of Sri Lanka has come to an agreement with the Commercial Bank to speed up the fund's services.

The government has decided to amend the Employees’ Provident Fund (EPF) and Employees’ Trust Fund (ETF) Acts. Treasury Secretary Dr. P.B. Jayasundera has said the EPF and ETF Acts would be amended to make provision for the proposed pension scheme for the private sector. The Finance Ministry

May 28, Colombo: Amidst concerns raised by trade unions in Sri Lanka, the government has decided to amend the Employees' Provident Fund (EPF) and Employees' Trust Fund (ETF) Acts.

Finance Secretary Dr. P.B. Jayasundera has emphasized that under the proposed pension scheme for the private sector, pensions will be granted in addition to the Employees Provident Fund and the Employees Trust Fund. Dr. Jayasundera said a Pensions Fund would exist, in addition to the Employees Provident Fund, the Employees Trust Fund and the Gratuity. ...

The Government is under strong criticism instead of praise due to the baseless and false campaign mooted by the opposition with regard to the proposed pension scheme. This was stated by Minister Basil Rajapaksa. The Minister pointed out that the private sector employees will not lose their Employees Provident Fund, Employees Trust Fund and even ...

The UNP has said the government should contribute monies to the proposed private pension fund without utilizing the Employees Provident Fund (EPF) and Employees Trust Fund (ETF) funds. UNP National Organizer and parliamentarian Ravi Karunanayake told the media that instead of contributing monies

May 23, Colombo: Sri Lanka's main opposition United National Party (UNP) has said the government should contribute monies to the proposed private pension fund without utilizing the Employees Provident Fund (EPF) and Employees Trust Fund (ETF) funds.

Trade unions have decided to lodge complaint with the International Labor Organization (ILO) about the government’s proposed pension scheme for the private sector. Private sector unions have objected to the proposed pension scheme stating it was not beneficial to the private sector workers and that the government was using the workers’ funds to set up ...

More To Exit following UN Report The stock market continued to lose its momentum as predicted in the lead story on these pages in its last week’s edition, compounded by foreigners fleeing the market, made worse by the UN’s negative war report on the island. “There is panic selling by foreigners in the backdrop of ...

President Mahinda Rajapaksa said that the government has decided to create three separate funds to accommodate the proposed controversial Private Pension Scheme instead of obtaining funds from ETF, EPF and Gratuity. Accordingly, three separate funds, The Employees’ Pensions Benefit Fund

Several trade unions are to hold a conference on Tuesday (26) to create awareness among the people about the ill effects of the government’s proposed private sector pension scheme. Ceylon Teachers’ Union (CTU) head, Joseph Stalin told Colombo Page that the union together with several others have organized a conference on Tuesday morning at the ...

Banks’ Profits Up 111% The banking industry achieved a considerably high level of profits in 2010. Profit after tax amounted to Rs. 57.5 billion last year, a 111% growth in comparison to a Rs. 27.2 billion profit in 2009. The significant growth in profitability was mainly attributed to a higher increase in fee-based income, a ...

A political expert contacted for an explanation on how the Bill to establish a private sector Employees’ Pension Scheme could go through parliament so urgently. He insisted no “Urgent Bill” could be brought up for debate in parliament without first being presented in the Supreme Courts. This insistence took our mind back to an anecdote ...

The gross income of the Employees Provident Fund was Rs.121.3 billion, which is 10.6 percent higher compared to that of the preceding year.  By the year 2010, the total value of the Fund has reached Rs.900 billion registering a growth of 16.9 per cent over that of 2009 reveals Central Bank reports.

The Inter Company Employees Union (ICEU) has called on the government to establish a pension scheme for the private sector employees. ICEU Head Wasantha Samarasinghe told a press conference that the union is to also take the matter to the International Labour Organization (ILO) and the World Trade Union Federation (WTUF). According to Samarasinghe, the ...

The total value of the Employees Provident Fund has risen to 900 Billion Rupees. The Central Bank said this was the highest value of the Fund. This surge is attributed to the generation of more new jobs and a hike in the salaries of the Private Sector. The value of the Employees Provident Fund in ...

Feb 12, Colombo: Private sector trade unions in Sri Lanka have opposed the government's move to introduce amendments to the Employees' Provident Fund (EPF) Act.