COLOMBO –Sri Lanka’s central bank has cancelled the process that paid a pension to governors appointed from outside the agency, a gazette notice signed by current Governor Nandalal Weerasinghe said.
According to the earlier rule, a person appointed as a Central Bank Governor from 01.01.1998 would be “deemed to be an employee” and would “receive a monthly pension irrespective of the number of years of his service, equal to 74% of the basic salary last paid to him.”
If a person was appointed as governor before 01.01.2015, he would get a pension only after 01.01.2015.
“Provided, in the event criminal investigation or proceedings are being conducted before a Court of Law in respect of a former Governor, pension payment to such former Governor shall be stayed or suspended until the conclusion of such investigations or proceedings,” the earlier rule specified, noting, “Where the said criminal proceedings results in the former Governor being convicted for a criminal offence, such former Governor shall not be entitled to receive pension payments.”
Under the new gazette notice, “pension payments to a person who has been appointed as the Governor shall be discontinued with effect from 11.09.2024 and no claims for pension payments shall be entertained by the Central Bank of Sri Lanka after the said effective date.”
-economynext.com
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