Sri Lanka to provide social security to workers in the informal sector – Community News
Social Security

Sri Lanka to provide social security to workers in the informal sector

The government plans to make Social Security benefits available to insurance agents, journalists, carpenters, masons, laborers and domestic workers.

This was announced by Labor Minister Nimal Siripala De Silva, who said: “It is the government’s responsibility to set up a social security benefit scheme for all segments of the country that lack social security or protection. The scheme offers them sufficient income support in their old age.”

The minister said that current labor laws should be adapted to the latest trends and needs in their respective sectors for the benefit of workers.

As such, labor laws governing the life insurance industry will be updated to reflect the latest industry developments for their job security, he said during a discussion recently held at the ministry with representatives of the Whole Island Life Insurance Agents’ Organization.

Insurance agents said that despite decades of multi-party discussions about the future and labor instability facing insurance agents, no progress has been made on steps to address it.

The minister said the government is focusing on developing a system for the nearly 45,000 life insurance agents working in the insurance industry in Sri Lanka to provide benefits to the Employee Provident Fund (EPF) and the Employees’ Trust Fund (ETF).

He said efforts have been made to provide a rapid solution to the social security arrangements of life insurance sales agents, and preparation of the necessary legal framework for this will begin shortly, Community News reported.