Review of Superannuation Benefit Programs in Sri Lanka

This report examines the current system of old age income security in Sri Lanka to determine whether it provides reasonable pension for retirees. It also explores the effects of the current system on labor market mobility and the fiscal deficit and looks at the potential for establishing greater demand for debt, particularly long-term debt, and equity securities through the strengthening of contractual savings. The focus of this note has been to review the formal systems of retirement savings provision currently in place in Sri Lanka, particularly from the perspective of cost effectiveness and administrative efficiency, and to ascertain policy options available to the government of Sri Lanka. The report outlines key objectives which would address material shortcomings in the present system, proposes potential reform strategy components, and explores measures which might assist in achieving these goals.

Bibliographic Details

Main Author:	World Bank
Language:	English en_US
Published:	Washington, DC 2000-05-19
Subjects:	OLD AGE BENEFITS, OLD AGE INSURANCE, PENSION COVERAGE, LABOR MOBILITY, FISCAL DEFICITS, RETIREMENT BENEFITS, RETIREMENT PROGRAMS, COST EFFECTIVENESS, EFFICIENCY, RETIREMENT POLICY, RISK MANAGEMENT, INVESTMENT RETURNS, ANNUITIES, REGULATORY FRAMEWORK, SOCIAL SECURITY BENEFITS, SOCIAL SECURITY SYSTEMS, SAVINGS PROMOTION, SOCIAL SAFETY NETS, FISCAL SUSTAINABILITY, CAPITAL MARKET GROWTH ACCUMULATION PERIOD, ADMINISTRATIVE COSTS, AGED, AGING, ASSET MANAGEMENT, BENEFIT SCHEMES, BONDS, CAPITAL MARKETS, CIVIL SERVICE, CLEARINGHOUSES, CONTRACTUAL SAVINGS INSTITUTIONS, CONTRIBUTION COLLECTION, DEBT, DEFINED BENEFIT SCHEMES, DEPENDENCY RATIO, ECONOMIC CIRCUMSTANCES, ECONOMIC IMPACT, EMPLOYMENT, EVASION, FAMILIES, FAMILY CARE, FAMILY SUPPORT, FINANCIAL INSTITUTIONS, FINANCIAL MARKETS, FISCAL RESPONSIBILITY, FISCAL YEAR, FUNDED SCHEMES, GOVERNMENT DEBT, GOVERNMENT EXPENDITURES, GOVERNMENT SECURITIES, GRATUITY FUNDS, HEALTH SERVICES, HOLISTIC APPROACH, HOUSING, HOUSING FINANCE, INCOME, INCOME LEVELS, INCOME SUPPORT, INDIRECT COST, INFLATION, INFORMAL SECTOR, INFORMATION ASYMMETRIES, INNOVATION, INSURANCE, INTEREST RATES, LABOR COSTS, LABOR FORCE, LEGISLATION, LIFE EXPECTANCY, MANAGERS, MANDATORY RETIREMENT, MARKET RISK, MARKETING, MULTIPILLAR SYSTEMS, OCCUPATIONAL PENSIONS, PARENTS, PENSION COSTS, PENSION FORMULA, PENSION FUND, PENSION PLAN, PENSION REFORM, PENSION SCHEMES, PENSION SYSTEM, PENSION SYSTEMS, PENSIONERS, PENSIONS, POVERTY ALLEVIATION, PRIVATE SECTOR, PRIVATIZATION, PROVIDENT FUNDS, PUBLIC SECTOR, PUBLIC SECTOR COMPENSATION, PUBLIC SECTOR EMPLOYMENT, PUBLIC SERVICE, REPLACEMENT RATE, REPLACEMENT RATES, RETIREES, RETIREMENT, RETIREMENT AGE, RETIREMENT INCOME, RETIREMENT SAVINGS, RURAL COMMUNITIES, SAFETY, SAFETY NETS, SAVINGS, SAVINGS SCHEMES, SECURITIES, SOCIAL ASSISTANCE, SOCIAL INSURANCE, SOCIAL PROTECTION, SOCIAL SAFETY NET, SOCIAL SECURITY, TAX, TAX INCENTIVES, TAX REFORM, TAX REVENUE, TAXATION, TRANSACTION COSTS, TRANSPARENCY, TREASURY, UNEMPLOYMENT, WAGES, WIDOWS, WORKERS,
Online Access:	http://documents.worldbank.org/curated/en/2000/05/437180/sri-lanka-review-superannuation-benefit-programs-sri-lanka http://hdl.handle.net/10986/15188
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