10-year wait for MP pension

Budget 2022 yesterday announced that a Member of Parliament (MP) would have to serve 10 years to qualify for pension as opposed to five years at present.

“This proposal is valid for all positions, including the presidency, for whom salaries are paid from the Consolidated Fund. Legal provisions are required to be formulated to bring this proposal into effect,” Finance Minister Basil Rajapaksa said, in introducing the proposal, which drew applause from Government benches.