The Cabinet of Ministers has approved the appointment of a Senior Officials Committee to study the feasibility of integrating the operations of the Employees’ Provident Fund (EPF) and the Employees’ Trust Fund (ETF) under a unified governance framework. The EPF, established in 1958, covers more than 2.5 million members and holds assets exceeding Rs. 4.9 trillion. Its custodianship, investment management, financial administration, and benefit payments are overseen by the Central Bank of Sri Lanka, while the Department of Labour handles registration, compliance, arrears recovery, and legal protection of employee rights. The ETF, created in 1980, is managed by a tripartite board representing employers and employees, and currently covers over 3 million active members with assets surpassing Rs. 637.5 billion. The tripartite governance model is recognized internationally as a best practice and is promoted by the International Labour Organization (ILO). The Labour Minister’s proposal to establish the committee was endorsed by the Cabinet, with the initiative aimed at exploring how both funds could be brought under a single tripartite governance framework representing the Government, employers, and employees. (Newswire) The post Senior officials committee to examine EPF–ETF integration appeared first on Newswire.
