Pension scheme to be introduced for Lankans working in South Korea

Pension scheme to be introduced for Lankans working in South Korea

Written by Staff Writer

14 Jul, 2014 | 4:58 pm

The Sri Lanka Social Security Board says that attention has been turned towards initiating a pension scheme from Sri Lankan nationals employed in South Korea.

The Chairman of the Board Attorney-at-Law Sumana Ariyadasa says discussions are underway with Korean authorities regarding the measure.

She added that plans are also afoot to initiate such pension schemes for Sri Lankan nationals working in European and Middle Eastern countries.

Chairman of Sri Lanka Social Security Board Attorney-at-Law Sumana Ariyadasa expressed following views,

“There are about 50,000 Sri Lankans working in Korea. The Korean government as per the laws there, takes part of their wages as social security benefit contributions. When they return to Sri Lanka they receive the accumulated sum of money. Then the people returning to Sri Lanka think of this as some sort of wage or bonus and spend it rapidly when they return to Sri Lanka. “

Ariyadasa added: “They do not think of the future. So we have initiated a programme to go to Korea, hold talks with the factory owners and have these contributions transferred to the Sri Lanka Social Security Board, following which it will be paid out to the beneficiaries once they reach 60 years of age or when they retire, as a pension scheme. This programme will not be limited to Korea alone.”

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