Budget 2021: Retirement age made equal for men and women

November 17, 2020 05:29 pm

The 2021 Budget proposes to amend the Employees’ Provident Fund Act to expand the retirement age for both men and women up to 60 years.

The current compulsory retirement age for the public sector is 60 years, whereas it is 50 years for the private sector. It is further lower for females.

Pointing out that the life expectancy for females is 76.6 years while it is 72 years for males, Prime Minister Mahinda Rajapaksa said that it cannot be justified to have two different ages for compulsory retirement for men and women.

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