Ceylon Electricity Board voluntary retirement scheme rules gazetted

The regulations and conditions of the Voluntary Retirement Scheme for employees of the Ceylon Electricity Board (CEB) under the Sri Lanka Electricity Act have been gazetted.

According to the Gazette notification issued under the signature of Minister of Energy Kumara Jayakody, the rules and conditions applicable to employees of the CEB who are eligible for voluntary retirement have now been published.

These regulations have been declared under subsection (3) of section 18 of the Sri Lanka Electricity Act No. 36 of 2024.

Accordingly, the compensation payments to be made to employees serving in the permanent cadre of the CEB under the Voluntary Retirement Scheme have also been announced through this Gazette notification.

As stated in the notification, an employee with a service period of 10 years or more who opts for voluntary retirement will be entitled to receive two months’ salary for every 12 months of service already completed, and one and a half months’ salary for every 12 months of service remaining until retirement.

For employees with less than 10 years of service, five months’ salary will be paid as compensation for every 12 months of service completed, with no payment for the remaining period of service.

In addition, the Gazette specifies how compensation will be paid to employees serving on a contract basis, along with several other related rules and conditions.

Read the Gazette