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Pension Contribution vs Benefit Tiers
Estimated monthly pension based on different contribution levels at age 60
Primary Sources
New Pension Scheme Planned for Tea Estate and Factory Workers
The Agricultural and Agrarian Insurance Board has announced plans to introduce a new pension scheme targeting workers employed in the tea industry and related sectors. Officials say the programme will be implemented under the Ministry of Agriculture, Livestock, Land and Irrigation in collaboration with the Ministry of Plantation and Community Infrastructure. The proposed pension scheme is expected to provide long-term financial security for employees working in tea estates and tea factories across the country. According to officials, workers who join the scheme will be able to select premium contribution amounts based on their financial capacity. Under the current proposal, an individual enrolling at the age of 18 and contributing Rs. 600 every quarter will become eligible to receive a monthly pension of Rs. 5,000 after reaching the age of 60. What Officials Says? Authorities further stated that workers making higher contributions could receive monthly pensions of Rs. 15,000, Rs. 20,000, Rs. 25,000, or more, depending on the selected premium category. Contributors will also have the option of increasing their premium payments later in order to improve future retirement benefits. In addition to pension benefits, the programme will include life insurance coverage for contributors who face total or partial disability due to accidents or pass away before retirement age. Officials also noted that if a contributor dies while receiving pension benefits, the pension entitlement will continue to the spouse. Authorities say the main objective of the scheme is to strengthen social security and improve the well-being of tea industry workers during old age, especially when physical labour becomes difficult. The proposed programme is expected to benefit thousands of workers employed in tea estates and tea factories, which remain among the country’s key export-driven industries. Visited 1 times, 1 visit(s) today Agricultural and Agrarian Insurance Board (AAIB) Agriculture Ministry Last modified: May 13, 2026
New pension scheme proposed for tea estate and factory employees
The Agricultural and Agrarian Insurance Board has announced plans to introduce a new pension scheme for workers engaged in the tea industry and related sectors. The programme, which will be implemented under the Ministry of Agriculture, Livestock, Land, and Irrigation, is scheduled to be carried out in collaboration with the Agricultural and Agrarian Insurance Board and the Ministry of Plantation and Community Infrastructure. Under the proposed scheme, employees working in tea estates and tea factories will be eligible to enroll, with contributors given the opportunity to select premium installments according to their financial capacity. Accordingly, an individual who joins the scheme at the age of 18 and pays a quarterly contribution of Rs. 600 will be entitled to receive a monthly pension of Rs. 5,000 upon reaching the age of 60. Officials further stated that, depending on the premium amount paid, contributors may receive monthly pensions of Rs. 15,000, Rs. 20,000, Rs. 25,000, or higher. Contributors will also have the option of increasing their premium payments at any stage in order to enhance their retirement benefits. In addition, the scheme provides life insurance compensation in the event that a contributor suffers total or partial disability due to an accident or passes away before reaching the pensionable age. It was also noted that if a contributor passes away while receiving pension benefits, the entitlement will be transferred to the spouse. Officials emphasised that the primary objective of the insurance scheme is to ensure the social security and well-being of tea industry workers during old age, when they may no longer possess the physical capacity to continue employment.
New pension scheme for tea industry workers announced by Agricultural ...
The Agricultural and Agrarian Insurance Board has announced plans to introduce a new pension scheme aimed at workers engaged in the tea industry and related sectors.
Daily Mirror - Sri Lanka Latest Breaking News and Headlines - Print Edition Global Milestone for Sri Lankan Organic Agriculture
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