Introduction of Farmer Pension and Social Security Benefit Scheme The Farmers’ Pension and Social Security Schemes Act No. 12 of 1987 operates under the Farmers’ Pension and Social Security Schemes Orders of 2014.
Pension Plan is an insurance policy that is designed to help you build a retirement fund whilst also enjoying the option of enhancing your policy with protection covers. In the unforeseen event of your demise, this policy will provide your family the death benefit and also continue to maintain the policy until its maturity and provide many benefits to your dependents.
Eligibility for contribution to the scheme
• Being a citizen of Sri Lanka.
• Being between 18-59 years of age.
• Being a land owner, lessee, tenant farmer, cultivator under the owner’s right and a person confirmed as a farmer by an authorized officer under the Agricultural Development Act or the Land Ordinance Act or an agricultural labourer.
• Not being a beneficiary under pension or provident fund.