The NPP government was exploring the feasibility of introducing a regular pension, or annuity scheme, for Employees’ Provident Fund (EPF) contributors, Deputy Minister of Labour Mahinda Jayasinghe told Parliament yesterday.

Responding to a question raised by NPP Kalutara District MP Oshani Umanga in the House, Jayasinghe said the government was examining whether EPF benefits, which are currently paid as a lump sum at retirement, could instead be converted into a system that provides regular payments throughout a retiree’s lifetime.

“We are looking at whether it is possible to provide a pension,” Jayasinghe said, stressing that there was no immediate plan to abolish the existing lump-sum payment. “But we are paying greater attention to whether a regular payment can be provided throughout their retired life.”

Jayasinghe noted that the EPF was established as a social security mechanism for private sector employees after retirement and warned that receiving the entire fund in a single installment could place retirees at financial risk, particularly as life expectancy increases.

He also cautioned that interim withdrawals from the EPF undermined its long-term sustainability. “Even the interim payments that are given from time to time undermine the ability to give security at the time of retirement,” he said, distinguishing the EPF from the Employees’ Trust Fund, which provides more frequent interim benefits.

Addressing concerns over early withdrawals, the Deputy Minister explained that contributors have been allowed to withdraw up to 30 percent of their EPF balance since 2015, with a further 20 percent permitted after 10 years, subject to specific conditions and documentary proof.

Of 744 applications received for such withdrawals, 702 had been approved, he said.

The proposed shift towards an annuity-based system comes amid broader concerns over Sri Lanka’s ageing population and pressures on retirement financing. While state sector employees receive pensions funded by taxpayers, including EPF contributors, the EPF itself has been facing growing strain as it is also used to finance budget deficits.

Jayasinghe said the government’s focus was to formulate a mechanism that would ensure long-term income security for private sector employees, placing them on a footing closer to a pension scheme rather than a one-time retirement payout.

Opposition Leader Sajith Premadasa yesterday strongly criticised proposals to increase electricity tariffs, warning that the move would deepen the hardships faced by the public already reeling from disasters and rising fuel costs.

Premadasa, who is also the leader of the SJB, told Parliament that the government was considering an electricity price hike at a time when people were struggling to recover from recent crises, while coping with higher fuel prices. He accused the administration of acting contrary to its own election pledges and the expectations of suffering people.

Making a special statement, the Opposition Leader recalled that the government had come to power promising to reduce electricity bills by 30 percent, within three years, by shifting from fuel-based power generation to cheaper renewable sources, such as solar, wind and hydropower. Instead, he said, those commitments had been abandoned.

Premadasa pointed out that the CEB has sought approval from the Public Utilities Commission of Sri Lanka (PUCSL) for an 11.57 per cent tariff increase for the first quarter of 2026 to cover its losses. He questioned whether the government had assessed the impact of such an increase on low- and middle-income households, as well as state institutions.

He also asked why the government had failed to honour its promise to cut electricity tariffs by one-third through a transparent pricing mechanism.

The Opposition Leader further criticised the limited time allocated for public consultations on the proposed new energy policy, saying it was unfair and should be extended, particularly given the prevailing national crises.

Premadasa warned that the removal of competitive tariff structures for industries would be unjust to large-scale consumers using more than five million units of electricity, and called for comparative reports before any subsidies are withdrawn.

He added that despite earlier assurances to reduce electricity bills by 33 percent, the government has once again increased fuel prices, even as global fuel prices decline, continuing, what he described as, a pattern of broken election promises.

Accusing the government of being constrained by International Monetary Fund (IMF) conditions, Premadasa said the simultaneous increases in fuel and electricity prices were exacerbating the economic burden on the public.

By Saman Indrajith

The Annual Kelaniya Duruthu Perahera at the Kelaniya Raja Maha Viharaya will be held on 08, 09 and 10 January 2026. The Historic Kelaniya Duruthu Maha Perahera had its origins in the year 1927, due largely to the efforts of that great Philanthropist Don Walter Wijewardene, son of Helena Wijewardene Lamathani of Sedawatte.

This Religious Cultural pageant has evolved over the years to become the country’s most elaborate and grandest low country pageant in its category. Kelaniya Raja Maha Viharaya is the most sacred temple in the Western Province of Sri Lanka since Lord Buddha’s sojourn here during his P historic visit to Sri Lanka.

It celebrates this event annually in the “Duruthu Poya” during January by conducting a historic, traditional and cultural pageant, the “Kelani Perahera”. Whilst the Kelani Perahera commemorates the religious significance of Lord Buddha’s visit.

The Perahera is organised under the guidance of Chief Priest of Kelaniya Raja Maha Viharaya, Venerable Professor Mahinda Sangarakkitta Nayaka Thera, and President of Dayaka Sabha, Dr. Saman Weerasinghe.

The Perahera will commence with the Chancellor of the Kelaniya University Agra Maha Panditha Ven Professor Kollupitiya Mahinda Sangharakkita Nayake Thera handing over the Sacred Relic Casket to Chief Basnayake Nilame Dhammika Attygalle. The Sacred Lord Buddha’s Dathu Perahera will be followed by three Devale Perahera’s of God Vibeshana, God Kataragama and God Vishnu.

On 08th January, 2026, will be the Udamaluwe Perahera, 09th January will be the Sacred City Perahera, and 10th January will be the Grand Duruthu Maha Perahera. The Perahera will commence at 8.00 pm.

There will be a Special Enclosure for foreign tourists to view the Perahera.