The Widows’ and Orphans’ Pension Fund (Amendment) Act, No. 8 of 2010 (Sri Lanka)

Abstract

The Widows’ and Orphans’ Pension Fund (Amendment) Act, No. 8 of 2010, was enacted by the Parliament of the Democratic Socialist Republic of Sri Lanka to reform the existing pension system designed to provide financial security to the widows and orphans of deceased government employees. This amendment seeks to modernize and enhance the provisions of the original Act to ensure better benefits and improved management of the pension fund.

Key changes include extending the eligibility for pensions to cover more categories of dependents, thus providing greater financial support to the families of deceased government workers. The Act also revises pension contribution rates, making adjustments to ensure the sustainability of the fund over the long term. Additionally, it introduces more streamlined processes for the application and disbursement of pension benefits, reducing delays and improving transparency in fund administration.