Cabinet has approved a proposal to amend the Employees’ Provident Fund (EPF) Act No. 15 of 1958 to improve services for members.

The amendments are aimed at addressing challenges arising from current social, economic and technological changes while improving the efficiency and quality of EPF services.

The Legal Draftsman has been instructed to prepare a Bill based on a preliminary draft prepared by the Department of Labour.

The draft has also taken into consideration proposals submitted by the Central Bank of Sri Lanka.