Pension entitlements for CB Governors cancelled

4 October 2024 12:25 am Views - {{hitsCtrl.values.hits}} 8 Bookmark

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The Central Bank of Sri Lanka (CBSL) yesterday announced the cancellation of pension entitlements previously granted to governors appointed after January 1, 1998.

In a gazette notice signed by CBSL Governor Nandalal Weerasinghe, the Central Bank announced that the relevant rule pertaining to pension benefits under the Monetary Law Act is rescinded, effective from September 11, 2024.

“Accordingly, pension payments to a person who has been appointed as the Governor shall be discontinued, and no claims for pension payments shall be entertained by the Central Bank of Sri Lanka after the said effective date,” the gazette notice stated.

Under the earlier regulations, Central Bank governors appointed after January 1, 1998, were entitled to receive a monthly pension equivalent to 74 percent of their last basic salary regardless of their length of service.

The previous rule also included provisions for suspending pension payments in cases where former governors faced criminal investigations or proceedings.

If convicted of a criminal offense, the governor was to be subjected to losing their pension entitlement.

Comments - 8

saliya Friday, 04 October 2024 09:01 AM

next MP's, too much of a burden for the tax payers to maintain these 254

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Dilakshan Seneviratne Friday, 04 October 2024 10:54 AM

This is a really good move. They are not career officers of the CB. Whoever introduced this in the first place was wrong.

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BuffaloaCitizen Friday, 04 October 2024 01:28 PM

It was done by Cabraal and it was passed in one week without debate.

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Dennis Rogers Friday, 04 October 2024 12:07 PM

Very good move. Really appreciable, likewise cut down the rest of the Luxury facilities.

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Patcitz Friday, 04 October 2024 02:50 PM

Believe, targetted through this Gazette notification are particularly Nivard Cabraal and Indrajith Coomaraswamy. Anyway, a meaningful step by AKD, everyone must appreciate the move.

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Dilakshan Seneviratne Friday, 04 October 2024 05:41 PM

I have heard Indrajith also backing RW’s flawed strategies and this may be a major factor at play.

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Soori Maripalan Friday, 04 October 2024 08:03 PM

Wonderful! We need to help poor people to buy food, medicine and other basics - not to feed Gonas!

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Prof. Oskar Dissanayake Saturday, 05 October 2024 08:01 AM

I salute Hon. President AKD for this brilliant move. Yes, CB Governors are the worst rogues robbed for the dirty Politicians like Mahinda, Gota, Sirisena and Ranil. They should be treated as ordinary staff in the CB and additional facilities including Pension should be stopped.

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