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SOME POINTS FOR DISCUSSION

Presented by W.J.L.U.Wijayaweera Commisioner of labour. SOME POINTS FOR DISCUSSION. ADDITIONAL POINTS TO BE CONSIDERED. 1. PROTECTION UNDER WC ACT. 2.PUBLIC SERVENTS WHO DO NOT ENJOY PENSION ARE COVERED BY P.S.P.F.

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SOME POINTS FOR DISCUSSION

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  1. Presented by • W.J.L.U.Wijayaweera • Commisioner of labour SOME POINTS FOR DISCUSSION

  2. ADDITIONAL POINTS TO BECONSIDERED 1. PROTECTION UNDER WC ACT. 2.PUBLIC SERVENTS WHO DO NOT ENJOY PENSION ARE COVERED BY P.S.P.F. 3.UNDER EPF COVERAGE 1.9m REPRESENT ONLY ACTIVELY CONTRIBUTING MEMBERS.THE NUMBER OF MEMBERS FOR WHOM THE DEPARTMENT HAS TAKEN LEGAL ACTION (.5m) ALSO TO BE ADED.

  3. MEMBER ACCOUNTS FOR 6 YEAR

  4. WHY LARGE NUMBER OF INACTIVE MEMBERS 1.MULTIPAL MEMBER ACCOUNTS 2.CUMBERSOME PROCESS OF AMALGAMATION OF ACCOUNTS 3.NEED OF THE UNIQUE IDENTIFICATION MEMBER NUMBER

  5. CLASSIFICATION OF MEMBER BALANCES-2004

  6. TOTAL REFUNDS

  7. ADIQUACY OF BENIFITS • WHETHER THE BENEFITS ARE SUFFICIENT ENOUGH FOR THE REST OF THE LIFE 2. IMPACT OF THE COMITMENT AT THE TIME OF RETIREMENT. 3. BREAK DOWN OF TRADITIONAL FAMILY SUPORT SYSTEM

  8. CHALLENGES FOR REQUIRED CHANGES • 1. LACK OF AWARENESS AMONG MEMBERS ABOUT THE DANGER • 2.UNDER DEVELOPED MARKET FOR ANNUITIES. • 3.LACK OF PROPER SOURCES OF INVESTMENTS OF FUNDS.

  9. THANK YOU

  10. CONTRIBUTIONS

  11. Details of Housing Loan Facility for the EPF Member

  12. CLASSIFICATION OF MEMBER BALANCES-2004

  13. CONTRIBUTIONS

  14. CLASSIFICATION OF MEMBER BALANCES-2004

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