Repositioning Employment Social Protection in the Private Sector in Sri Lanka

The COVID-19 pandemic and resulting lockdowns have resulted in severe disruptions to labour markets across the world. One immediate challenge that all employers face – particularly in the private sector – is the ability to retain employees and pay their wages in full. Both employers and employees in Sri Lanka’s formal private sector contribute a share of a worker’s monthly wages to the Employees’ Provident Fund (EPF) and Employees’ Trust Fund (ETF), which provide a lump-sum payment at retirement. Can such a scheme be redesigned to provide for job and enterprise protection during a crisis? Are there other countries that have drawn from such funds during the pandemic? What are the potential costs and benefits of a revised scheme? This study intends to examine such issues, which will be of interest to both the government and employers, moving forward out of the crisis.

 

Research team

Nisha Arunatilake
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Ashani Abayasekara
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Chathurga Karunanayake
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Funding

International Labour Organization

Published Year

2020 – 2021