Retirement age in the private sector

A proposal to bring regulation pertaining to the retirement age in the private sector was discussed at the NLAC meeting but deferred for further examination.

The proposal came from Leslie Devendra, General Secretary of the Sri Lanka Nidahas Sevaka Sangamaya (the Sri Lanka Freedom Party-backed union) stating that while the public sector retirement age is 60 years, there is no proper regulation governing retirement age in the private sector.

It was revealed that the retirement age varies from 55 years to 60 years in the private sector while unions point out that even at 60 the local market sales.

In desperation, shoe manufacturers are also learnt to have met former President Mahinda Rajapaksa to secure his support in a bid to stall the entry of the Indian company.