News Today: New pension scheme for tourism and fisheries sector workers announced

The Sri Lankan government is set to launch a pension scheme for tourism and fisheries sector workers in 2025. These two industries have a high number of informal workers who lack financial security after retirement. The new initiative aims to provide a stable financial future for those engaged in these vital economic sectors.

Tourism Deputy Minister Prof. Ruwan Ranasinghe announced in Parliament that the contributory pension scheme would cater specifically to employees in the tourism sector. Additionally, the government is introducing a special social welfare programme for individuals involved in the tourism industry.

This move comes as part of a broader effort to strengthen the social security system and ensure long-term sustainability for workers who contribute significantly to Sri Lanka’s economy. The fisheries and tourism industries are two of the most dynamic and revenue-generating sectors in the country, yet workers in these fields often lack proper retirement benefits.

The pension scheme will likely be structured as a contributory system, meaning that both employees and possibly employers will contribute to the fund. This ensures that workers will receive financial benefits upon retirement, enhancing their quality of life.

The government’s decision reflects a growing recognition of the importance of formalizing social security for informal sector workers. It also aligns with Sri Lanka’s economic development goals, providing stability to those engaged in the tourism and fisheries industries.

Further details on eligibility, contribution rates, and implementation timelines are expected to be released soon. This initiative is anticipated to have a positive impact on the lives of thousands of workers who have long been excluded from pension schemes.