First comprehensive review of EPF, ETF launched, says Deputy Minister

The Government has launched the first comprehensive review of the Employees’ Provident Fund (EPF) and Employees’ Trust Fund (ETF) since their establishment, Deputy Minister of Labour Mahinda Jayasinghe told Parliament on Friday.

He said the review was aimed at improving the efficiency of the two retirement benefit schemes and enhancing services provided to millions of members.

Addressing Parliament, Jayasinghe said the Labour Department had already introduced several measures to modernise the administration of the funds, including digitalisation initiatives and improved mechanisms to recover outstanding contributions from defaulting employers.

According to the latest figures, the EPF has 22.9 million registered members and beneficiaries, of whom 3.1 million active accounts receive monthly contributions. The ETF has around three million registered members.

The Deputy Minister said the EPF’s total assets had reached Rs. 4.9 trillion by the end of 2025, while the ETF’s assets stood at Rs. 637.5 billion. He added that there were 101,000 active employers in 2025, including 376 semi-government institutions.

Jayasinghe said no government had undertaken such a systematic review of the two funds since their establishment, with the EPF being introduced in 1958 and the ETF in 1980.

He said the Labour Department had accelerated the recovery of unpaid EPF contributions from private and semi-government institutions, with Rs. 3.4 billion allocated through the 2026 Budget to settle outstanding contributions of semi-government institutions.

He added that steps had also been taken to reactivate stalled court cases and execute pending warrants related to contribution defaults.

The Deputy Minister said a new software system was being developed by integrating the data systems of the Labour Department and the Central Bank of Sri Lanka (CBSL) to create a unified platform.

He further noted that the Digital EPF facility, launched last December, enables employees to register and access a range of EPF-related services online. These reforms, he said, would eventually allow members to obtain EPF and ETF services through a single-window system.

The Sri Lanka Press Institute (SLPI), and its constituent partners, the Newspaper Society of Sri Lanka (NSSL), The Editors’Guild of Sri Lanka (TEGOSL), the Free Media Movement (FMM), the Sri Lanka Working Journalists Association (SLWJA) together with its affiliated organizations, the Muslim Media Forum (MMF), the Tamil Media Alliance (TMA), The Federation of Media Employees Trade Union (FMETU), the South Asia Free Media Association – SL Chapter (SAFMA) object the proposed Chartered Institute of Media Professionals of Sri Lanka (CIMP) Bill.

“Our primary objection stems from the government-led nature of this initiative. History shows that robust professional bodies, such as the Institute of Engineers and the Sri Lanka Institute of Architects, were founded and drafted by the professionals themselves before being incorporated by Parliament. In contrast, the CIMP is a state-driven project ordered to be published by the Minister of Health and Mass Media despite objections raised by media’s professional bodies.

We view this as an attempt to impose a state-managed regulatory framework upon a profession that must remain independent of government inteference to function effectively,” an SLPI news release said.

“The SLPI, its constituents and affiliated organizations maintain that professional media standards must be self-regulated in principle and led by the media community, not mandated by law under ministerial oversight. The SLPI has presented an alternative mechanism, viz., the Sri Lanka Media Commission (SLMC), based on co-regulatory and self-regulatory principles, which improves professionalism. In addition, the Sri Lanka College of Journalism, which is recognised by the media industry for training journalists for more than two decades, could also be an alternative way of building relevant journalism standards with government financial support if it intends to genuinely promote media professionalism.  We call upon the government to withdraw this Bill and engage in a genuine dialogue with stakeholders that respects the autonomy and freedom of the media in a democracy.”

More than Rs. 332 million in public funds has been spent on maintaining Provincial Council chairpersons and their staff despite the dissolution of Provincial Councils, Deputy Minister of Provincial Councils and Local Government Ruwan Senarath told Parliament on Friday.

The Deputy Minister disclosed this in response to a question raised by NPP Gampaha District MP Ruwan Nishantha Mapalagama.

According to Senarath, a total of Rs. 332.9 million had been incurred during the relevant period for the upkeep of Provincial Council chairpersons and their administrative staff, although the respective councils had ceased functioning after completing their terms.

He explained that the expenditure had continued due to provisions in the Constitution and existing legal framework, under which the positions of Provincial Council chairpersons remain valid even after the expiry of the councils’ official terms.

Senarath said the legal provisions governing Provincial Councils had resulted in chairpersons and their staff continuing to receive related facilities despite the councils themselves no longer being operational.

The disclosure came amid concerns over public expenditure incurred on maintaining institutions that remain inactive due to the absence of Provincial Council elections.