This report examines the current systemof old age income security in Sri Lanka to determine whetherit provides reasonable pension for retirees. It alsoexplores the effects of the current system on labor marketmobility and the fiscal deficit and looks at the potentialfor establishing greater demand for debt, particularlylong-term debt, and equity securities through thestrengthening of contractual savings. The focus of this notehas been to review the formal systems of retirement savingsprovision currently in place in Sri Lanka, particularly fromthe perspective of cost effectiveness and administrativeefficiency, and to ascertain policy options available to thegovernment of Sri Lanka. The report outlines key objectiveswhich would address material shortcomings in the presentsystem, proposes potential reform strategy components, andexplores measures which might assist in achieving these goals.
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