Still no final decision on merging EPF and ETF - PM

Prime Minister Ranil Wickremesinghe today said that a final decision has still not been taken regarding the merging of the Employees Provident Fund (EPF) and the Employees’ Trust Fund (ETF).

Addressing the Parliament during the second reading debate on the 2016 Budget, he said that when declaring medium term economic policies and when presenting the budget the government had expressed interest in merging both funds. 

However, representatives of trade unions have strongly opposed the move to maintain one fund and therefore the government is further discussing the matter with them, he said. 

The Prime Minister said that the merging of the two funds was proposed for better safeguarding nad that, however, a final decision has still not been taken.