The Employers’ Federation of Ceylon (EFC) has presented a comprehensive position paper to Labour Minister Anil Jayantha Fernando, outlining proposals aimed at strengthening governance and safeguarding beneficiary interests in Sri Lanka’s social security institutions.
The document, titled “Preserving Beneficiary Interests in Sri Lanka’s Social Security Institutions Through Good Governance,” was developed through a collaborative initiative led by the EFC with the support of the International Labour Organization’s Bureau for Employers’ Activities (ACTEMP) and the International Training Centre of the ILO (ITC-ILO).
According to the EFC, the initiative brought together employers and other stakeholders through the newly established EFC Employers’ Network on Social Security to promote dialogue on governance reforms relating to the Employees’ Provident Fund (EPF) and Employees’ Trust Fund (ETF).
The position paper emphasizes the importance of transparency, accountability, and balanced stakeholder representation in the management of social security institutions. Drawing on international best practices, it examines governance frameworks, board structures, investment management systems, and the use of digital technologies to improve the administration of social protection schemes.
Among the key recommendations are legislative reforms to ensure effective representation of employers and employees on the governing boards of the EPF and ETF, the introduction of qualification requirements for board members, the establishment of an independent investment committee for the ETF, and the adoption of unique identification numbers for members to improve transparency and service delivery.
The EFC stated that the initiative 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 protect the interests of beneficiaries.
The federation further noted that by encouraging evidence-based dialogue and sharing international experiences, the EFC Employers’ Network on Social Security aims to strengthen governance standards, enhance public confidence, and support the long-term sustainability of Sri Lanka’s social protection institutions.
