Bill increasing private sector employees retirement age to 60 comes into force

Friday, 19 November 2021 00:23 - - {{hitsCtrl.values.hits}}

Speaker Mahinda Yapa Abeywardena certified the Minimum Retirement Age of Workers Bill and the Termination of Employment of Workmen (Special Provisions) (Amendment) Bill yesterday.

The two Bills were debated and passed in Parliament on 11 November. The retirement age of employees in the private sector has been increased to 60 years from 55 years with the coming into force of the new Act.

The Bill includes the provisions to extend the retirement age to 60 years with respect to employees who have not attained the age of 52 on the effective date of the proposed Act and the case of employees who are aged 52 or above on the effective date of the proposed Act to employ them under three age groups up to a maximum age of 59 years.