The Employees’ Trust Fund Board commenced operations on 1st March 1981 under the Ministry of Labour and currently functions under the Ministry of Finance, Economy, and Policy Development.
The main features of this Fund is that all Private and Semi Government sector Employers contribute 3% of the gross salary of their employees monthly to the Fund while the Fund implements a range of social and welfare benefits to the members during their employment. The special feature of the welfare benefits provided is that no recovery is made from the member’s balances for providing any of the social and welfare benefits. In addition, the member can withdraw the entire Fund balance lying to his credit at retirement or once in 05 years, if employment is changed. Presently the Fund has around 2.6 million members employed by 79,000 Employers and the value of the Fund as at end of December 2019 is Rs: 339 billion'
The progress of the Board has increased encouragingly and remarkably during the past few years in every aspect including Collections, Investment Income, Surcharge Income, Growth of the Fund etc. Accordingly for 2019 the board was able to declare a total Dividend + Interest rate of 8% to all members. All major operations have been de-centralized with 19 Regional Offices operating island wide with the usage of modern IT facilities. The total staff of the Board is around 1046 most of whom are young and resourceful which is helpful to effectively manage the Board’s activities. It is our earnest hope to serve the members with great vigor in the coming years.
Chairman / CEO
Employees' Trust Fund Board