New five-point roadmap aims to improve governance of Sri Lanka’s social security institutions

A position paper from the Employers’ Federation of Ceylon sets out governance priorities for Sri Lanka’s EPF and ETF, focusing on representation, board competence, investment oversight, digital identification, and transparency and accountability.

Sri Lankan employers and stakeholders have put forward a five-point roadmap aimed at strengthening confidence in the country’s main social security institutions.

The Employers’ Federation of Ceylon (EFC) has presented a position paper to Minister of Labour Anil Jayantha Fernando outlining proposals to improve the governance of the Employees’ Provident Fund (EPF) and Employees’ Trust Fund (ETF).

The paper, titled “Preserving Beneficiary Interests in Sri Lanka’s Social Security Institutions Through Good Governance,” was developed by the EFC with support from the ILO Bureau for Employers’ Activities (ACTEMP) and the International Training Centre of the ILO (ITC-ILO).

The paper highlights the importance of transparency, accountability and balanced representation in the governance of social security institutions. Drawing on international good practices, it examines governance structures, board composition, investment management frameworks and the role of digital technologies in improving the administration of social security schemes.

The EFC developed the paper with support from the ILO Bureau for Employers’ Activities and the International Training Centre of the ILO, following discussions through the newly established EFC Employers’ Network on Social Security.

Rather than focusing only on the administration of social security schemes, the paper puts governance at the centre of reform. It highlights four broad priorities:

• effective representation of employers and workers on the governing boards of the EPF and ETF,
• introduction of qualification requirements for board members,
• establishment of an independent investment committee for the ETF, and
• the adoption of unique identification numbers for members to enhance transparency and service delivery.

According to ILO, tnitiative reflects the commitment of Sri Lankan employers to contribute constructively to policy discussions and support the development of sustainable, transparent and well-governed social security systems that safeguard the interests of beneficiaries.

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