Introduction of a New pension Scheme is in the Making   

The public Administration Ministry had drafted the new bill for the introduction of a new pension scheme for public servants, which includes similar methodology now followed in Japan, India and Europe. Once the bill is enacted into a law, it will pave way for the establishment of a contributory pension fund for public servants joining the service in the future. The “National Pension Bill” will now pave way to create a fund. Similar funds exists in countries such as Japan, India and Europe. We have studied all such models and worked out our own system said, Minster Ranjith Mathuma Bandara.