Social security benefits for several informal sectors

Arrangements have been made to commence the social security benefit scheme for insurance agents, journalists, carpenters, masons including labourers and domestic workers in the informal sector too in the future, Labour Minister Nimal Siripala De Silva said.

“It is the responsibility of the government to form a social security benefit scheme for all segments in the country who do not have any social security or protection.The scheme will provide adequate income support for them in their old age,” he added.

The Minister said that he does not hesitate to amend the current labour laws according to the latest trends and needs in their respective sectors for the benefit of the workers. Accordingly, labor laws related to the life insurance industry will be amended according to the latest development in the industry for the their job security,” he added

The Minister said this at a discussion held at the Ministry with representatives of Whole Island Life Insurance Agents’ Organization recently.

Insurance agents pointed out that despite decades of discussions with various parties about the future and occupational instability faced by insurance agents, no positive steps have been taken to address this.

The Minister said the government is focusing on developing a system for the nearly 45,000 life insurance agents working in the insurance industry in Sri Lanka to provide Employees Provident Fund (EPF) and Employees’ Trust Fund (ETF) benefits. Accordingly, the legal states related to the appointments of the life insurance agents will be amended according to the present demands and needs in the industry,” he added.A suitable social security programme for them has not yet been implemented. Therefore, there is no certainty about their future security and institutional professional affiliation, the Minister said.

The insurance sector has become one of the most lucrative sectors in Sri Lanka at present, the Minister said.

Steps will be taken to provide a speedy solution to the social security arrangements of the life insurance sales agents and the preparation of the necessary legal framework for this purpose will be commenced soon.