SJB questions objective behind extension of retirement age

The Samagi Jana Balawegaya (SJB) today questioned the objective behind the budget proposal to extend the retirement age for private sector employees to 60.

Speaking in Parliament during the budget debate, MP Nalin Bandara Jayamaha said the productivity and skills of the people decrease as they age.

“The ability and skills of women decreases by 36 per cent when they turn 60 and in men it reduces to 83 per cent from about 97 per cent.”

“The government simply wants to give an extension to the employees so that more funds will retain in the ETF and EPF. The government is trying to collect funds amounting to Rs.112 billion in this manner to cover its expenses,” MP Jayamaha said.