According to the Department of Pensions, the number of pensioners in Sri Lanka reached 695,726 by the start of October 2023. Out of this total, 29,751 individuals retired from state service. However, the net increase in pensioners was only 19,296 when compared to the previous year-end number of 676,430, as reported by the Finance Ministry in 2022.
As of the beginning of October, Sri Lanka had made pension payments amounting to 253 billion rupees. This figure is lower than the full-year payment of 309 billion rupees in the previous year.
Pensions in Sri Lanka are granted to state workers who have dedicated many years of service to the public. However, it is worth noting that politicians and their immediate family members who are appointed to personal staff positions can also receive pensions after just five years of service.
Out of the total pension payments, 39 billion rupees were disbursed as commuted pensions to 32,000 individuals. Additionally, the widows and orphans schemes saw an increase of 9,397 new members.
The Department of Pensions estimates that Sri Lanka will pay a total of 418 billion rupees under all pension schemes for the current year.
