There is a public and private pension system in Sri Lanka and it is administered by Department of Pensions. The private pension fund is primarily the Employees' Provident Fund (EPF).
Old-age benefits aid retired people over age 55 (men) or 50 (women). It is available at any age if the government closes the place of employment, emigrating permanently, or for employed women who marry.
Benefits are paid as a lump sum of total employee and employer contributions plus interest.
Expats in Sri Lanka are eligible for certain pension schemes if they have completed a certain number of years working in Sri Lanka.
Banks in Sri Lanka have pension plans for expats in which they have to contribute monthly and upon reaching 55-60, they can use the benefit. They can also claim pension benefits from their own country.
A few countries have a bilateral agreement with Sri Lanka that allow for years worked in this country to count to their State pension. Inquire with your state plan about the specifics.
If your country does not allow for years worked in Sri Lanka to count toward your state pension, there may be an opportunity to buy back time once you have returned to your home country and are once again contributing to the pension plan. Again, inquire with your state plan.
When you move internationally you are taking a big step. Lots of things are changing and you have a million things to think about and take care of. If you are able to select a top of the line moving company that moves for a modest price, it can take a big weight of your shoulders in busy times.
Our network of international removal companies can move your furniture & possessions to Sri Lanka and anywhere overseas.
Filling in the form at the bottom will allow you to request up to 5 quotes from various moving companies. This service is free of charge and will help you select an international moving company that suits your needs and budget.