A report on increasing the retirement age for the private sector workers up to 60 will be presented to the Cabinet soon, Labour and Trade Union Relations Minister W.D.J.Seneviratne said.
According to the Minister,the report will be presented to the cabinet after discussing the issue with the National Labour Advisory Council.
Several proposals had been made by various trade unions requesting the Government to increase the retirement age up to 60 years.
The retirement age of public sector employees is 60 years (with the five years they serve on service extensions).
Minister Seneviratne pointed out that although the private sector employees retire at the age of 55, they serve for the same company or another company after retirement. But,they face discrimination when the employer has the power to decide whether or not to give contracts of few months or one year. “When a worker retires and joins the same company or another on contract basis, no other benefits will be given to the employee except their monthly salary. Their contracts can be cancelled at any,” he added.