The Employers’ Federation of Ceylon has submitted a comprehensive roadmap to strengthen governance in Sri Lanka’s social security institutions. The position paper was presented to Labour Minister Anil Jayantha Fernando and focuses on improving transparency, accountability and representation in the management of key social security funds.
The paper, titled “Preserving Beneficiary Interests in Sri Lanka’s Social Security Institutions Through Good Governance,” was developed with support from the ILO Bureau for Employers’ Activities and the International Training Centre of the ILO. It reflects the outcome of consultations held through the newly established EFC Employers’ Network on Social Security.
The initiative focuses mainly on governance reforms for the Employees’ Provident Fund and the Employees’ Trust Fund. These institutions play an important role in protecting worker savings and supporting long-term social security for employees in Sri Lanka.
The roadmap highlights the need for stronger transparency, accountability and balanced representation in social security governance. It also reviews international good practices related to governance structures, board composition, investment management and the use of digital technologies in social security administration.
Among the key recommendations are legislative reforms to ensure effective representation of employers and workers on the governing boards of the EPF and ETF. The paper also proposes qualification requirements for board members to strengthen decision-making and institutional credibility.
Another major recommendation is the creation of an independent investment committee for the Employees’ Trust Fund. This measure is intended to improve investment oversight, reduce risks and better protect the interests of beneficiaries.
The roadmap also recommends introducing unique identification numbers for members. This digital reform could improve transparency, strengthen service delivery and make it easier for beneficiaries to access and track their social security information.
The initiative shows the commitment of Sri Lankan employers to contribute constructively to policy discussions on social protection reform. By engaging employers and stakeholders, the EFC aims to support the development of sustainable and well-governed social security systems.
Recent government reform proposals reportedly reflect several themes raised through the employers’ dialogue, including transparency, tripartite governance and accountability. This suggests growing momentum for reforms that could strengthen public confidence in Sri Lanka’s social security institutions.
Overall, the EFC roadmap represents an important contribution to Sri Lanka’s social security reform agenda. By promoting evidence-based dialogue, international good practices and stronger governance standards, the initiative aims to safeguard beneficiary interests and improve trust in the country’s social protection system.
