VRS scheme for NSB employeesNewsThe Cabinet has approved a Voluntary Retirement Scheme for National Savings Bank employees. Sri Lanka Savings Bank became a wholly owned subsidiary of National Savings Bank in the year 2019. Currently, the National Savings Bank has decided to take over the assets and liabilities of the Sri Lanka Savings Bank and absorb its employees. Accordingly, the process of placement of employees of the Sri Lanka Savings Bank is currently underway, a note to the Cabinet said. As an alternative, it has been decided to introduce a voluntary retirement scheme and it has also been decided to make a payment taking into account the market factors for the employees who retire voluntarily.

Source: Sunday Times May 15, 2024 08:28 UTC