Agrahara Pension Scheme for pensioners, Rs. 400/- deducted from pension

COLOMBO (News 1st); The Sri Lankan Government will introduce a new Agrahara Pension scheme for all pensioners which will see a certain amount slashed monthly from the pension.

The Agrahara Pension Scheme came into effect from the 1st of November, and it applies to all pensioners who are below the age of 70.

A sum of Rs. 400/- is deducted monthly from the pensioners, who fall into this new Agrahara Pension Scheme.

The premium charged from pensioners over 70 is 600 rupees.

Those who do not wish to use the insurance scheme and have retired before 1st of January 2016 can notify the Director of Pensions in writing within two weeks from October 29th, stating that they do not wish to be included in the scheme.

The circular issued by the Ministry of Public Administration states that if no response is received within this period, the amount will be deducted on the presumption that the consent is already given.

Letters of disapproval sent after the prescribed two-week period will also be rejected.

The Government says the decision to expand the agrahara insurance benefits scheme which was already available for senior citizens was made with the aim of providing a more secure opportunity to the pensioners.