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4 posters

30% withdrawal of EPF funds

First Guy

First Guy: Posts : 2599
Join date : 2014-02-22

Post n°1

30% withdrawal of EPF funds

by First Guy Thu Jun 11, 2015 10:53 pm

http://www.sundaytimes.lk/101003/News/nws_16.html

http://www.adaderana.lk/bizenglish/how-to-obtain-30-from-epf-labour-ministry-secretary-explains/

Although it can be done only for housing or medical purposes, many would like to utilize it for housing purposes.

This could create a sudden cash requirement for EPF. What are the implications?

Which investments are most likely to be liquidated in this case? Equities?

කිත්සිරි ද සිල්වා

කිත්සිරි ද සිල්වා: Top contributor; Posts : 9679
Join date : 2014-02-23
Age : 66
Location : රජ්ගම

Post n°2

Re: 30% withdrawal of EPF funds

by කිත්සිරි ද සිල්වා Thu Jun 11, 2015 10:59 pm

Good issue to ponder and thanks for sharing.
Hope the withdrawals will indirectly help to prop up some segments of the market too.

_________________
I am the wisest man alive, for I know one thing, and that is that I know nothing.
Socrates

nihal123

nihal123: Top contributor; Posts : 6327
Join date : 2014-02-24
Age : 58
Location : Waga

Post n°3

Re: 30% withdrawal of EPF funds

by nihal123 Thu Jun 11, 2015 11:02 pm

අර්ථ සාධකේ 30% ගන්නෙ කොහොමද ? කම්කරු අමාත්‍යංශයේ ලේකම් කතා කරයි
biz_man Top News June 10th, 2015 0 Comments 631 views

සේවක අර්ථ සාධක අරමුදලේ (EPF) සාමාජිකයින් සඳහා ඔවුන්ට හිමි සමස්ත ශේෂයෙන් සියයට 30 ක් ලබාගත හැක්කේ නිවසක් ඉදිකිරීම, නිවසක් ඉදිකිරීම සඳහා ඉඩමක් මිලදීගැනීම, නිවාස දේපොළක් මිලදී ගැනීම, නිවාස දේපොළක් මත ඇති උකස් බේරුම් කිරීම හෝ අනුමත බැංකුවකින් ලබාගත් ණයක ඉතිරි මුදල බේරුම් කිරීම සඳහා යැයි කම්කරු අමාත්‍යංශයේ ලේකම්වරයා සඳහන් කරයි.

කම්කරු අමාත්‍යංශයේ ලේකම් හේරත් යාපා මහතා අප සමග විශේෂ සාකච්ඡාවකට සම්බන්ධ වෙමින් පැවසුවේ මීට අමතරව, වෛද්‍ය ප්‍රතිකාර සඳහාද මෙම සියයට 30 ක මුදල ලබාගත හැකි බවයි.

මෙහිදී, සේවක අර්ථ සාධක අරමුදලේ සාමාජිකයාට අමතරව ඔවුන්ගේ බිරිඳ, ස්වාමිපුරුෂයා සහ දූ දරුවන්ද ඇතුළත් වේ.

වෛද්‍ය ප්‍රතිකාර යන්නට හෘද සැත්කම්, බයිපාස් සැත්කම්, පිළිකා සඳහා ප්‍රතිකාර, වකුගඩු බද්ධ කිරීම හෝ සැත්කම්, සිසේරියන් සැත්කම් හා අනතුරක් සිදුවීම නිසා දින 14 කට වැඩි කාලයක් රෝහල් ගතකර ලබාදෙන ප්‍රතිකාර ඇතුළත් වනබව කම්කරු අමාත්‍යංශයේ ලේකම්වරයා සඳහන් කළේය.

නිවාස සහ වෛද්‍ය ප්‍රතිකාර සඳහා සේවක අර්ථ සාධක අරමුදලේ සාමාජිකයාගේ ශේෂයෙන් සියයට 30 ක් නිදහස් කිරීමට වසර 10 කට නොඅඩු කාලයක් අරමුදලට දායක මුදල් ගෙවා තිබීම, දැනට සේවා නියුක්තවී සිටීම සහ තමන්ගේ ශේෂය රුපියල් ලක්ෂ 03 කට නොඅඩුවීම යන කරුණු සපුරාලිය යුතුවේ.

යම් හෙයකින් සේවක අර්ථ සාධක අරමුදලෙන් මීට පෙර නිවාස ණය ලබාගෙන තිබෙන සාමාජිකයින්ට මෙවර සියයට 30 ක ප්‍රමාණය ලබාගත හැක්කේ වෛද්‍ය ප්‍රතිකාර සඳහා පමණි.

කම්කරු අමාත්‍යංශයේ ලේකම්වරයා සඳහන් කළේ වසර 10 ක අඛණ්ඩ දායක මුදල් ගෙවීමක් මේ සඳහා අවශ්‍ය නොවන බවත් වසර 10 ක් වරින් වර දායක මුදල් ගෙවා තිබීම ප්‍රමාණවත් වන බවයි.

මෙම සියයට 30 ක මුදල ලබාදෙන්නේ ණය මුදලක් ලෙස නොවන අතර මෙය ආපසු ගෙවීමට අවශ්‍ය නොවේ.

කම්කරු අමාත්‍යංශයේ ලේකම්වරයා සඳහන් කළේ නාරාහේන්පිට පිහිටි කම්කරු කාර්යාලයෙන් මේ සඳහා මූලික ඉල්ලුම් පත්‍රයක් ලබාගෙන සම්පූර්ණ කර භාරදුන් පසුව සාමාජිකයින්ගේ සුදුසුකම් පරීක්ෂා කිරීමෙන් පසුව මෙම මුදල් ගෙවීම සිදුකරන සවිස්තරාත්මක ඉල්ලුම් පත නිකුත් කරන බවයි.

අප වෙත අනාවරණය වන ආකාරයට මේ වනවිට මූලික අයදුම් පත් 25,000 කට ආසන්න ප්‍රමාණයක් සියයට 30 ක මුදල ලබාගැනීම සඳහා ඉදිරිපත් වී තිබේ.

කම්කරු අමාත්‍යංශයේ ලේකම් හේරත් යාපා මහතා වැඩිදුරටත් පැවසුවේ සාමාජිකයින් සියල්ලටම වුවද ඔවුන්ට හිමි සියයට 30 ක මුදල ලබාදීම සඳහා අමාත්‍යංශය සූදනමින් සිටින බවයි.

First Guy

First Guy: Posts : 2599
Join date : 2014-02-22

Post n°4

Re: 30% withdrawal of EPF funds

by First Guy Thu Jun 11, 2015 11:14 pm

කිත්සිරි ද සිල්වා wrote:Good issue to ponder and thanks for sharing.
Hope the withdrawals will indirectly help to prop up some segments of the market too.

Not sure how much 30% is for most. But I guess it could be enough for at least a down payment (remember this is after contributing for 10 years) for a housing loan. But there might be others who will use this to buy a loan and some to repay existing housing loans.

If it's used to repay existing housing loans, wouldn't some good long term loans of banks be repaid prematurely ?

yellow knife

yellow knife: Top contributor; Posts : 6980
Join date : 2014-03-27

Post n°5

Re: 30% withdrawal of EPF funds

by yellow knife Fri Jun 12, 2015 10:40 am

Its time to revisit Norges Bank, Norwegian Petroleum Fund and its Statesmen.

Central Banks tend to manage long term funds of a nation..Norway government should have allowed its citizen to enjoy life and allow the nation to suffer in longrun..

But Norwegian Government decided to use funds for longterm.. Sometimes citizens of Norway move out to buy pharmaceuticals or even stationery from near by countries as its cheaper outside.. But the government evaluate the longterm benefit..

SLs new regime is merely looking at all the possible ways to increase consumption

The media always enlightened the Sri Lankan citizens that immediately after war prices of everything will fall... It did not happen? Reason is Corruption as identified by Media/Politicians..

Now no war... No corruption...Is the prices low?

So the short-sighted new Regime gave Petrol below its cost making CPC and LIOC to bleed...(to death???).... Thats not enough... Now its releasing the funds for future/investments ...

At least Sri Lanka should learn from NORWAY now..

First Guy

First Guy: Posts : 2599
Join date : 2014-02-22

Post n°6

Re: 30% withdrawal of EPF funds

by First Guy Fri Jun 12, 2015 10:52 pm

YK - it's all about the votes. Unless the mentality of the voters change, the rulers won't, whoever that is.

yellow knife

yellow knife: Top contributor; Posts : 6980
Join date : 2014-03-27

Post n°7

Re: 30% withdrawal of EPF funds

by yellow knife Sat Jun 13, 2015 12:28 pm

Which one should come first...

Egg or Chick?

Which should govern the country?

Foolish people and foolish rulers?

Why not someone say the truth even if you lose

There should be a turning point...

කිත්සිරි ද සිල්වා

කිත්සිරි ද සිල්වා: Top contributor; Posts : 9679
Join date : 2014-02-23
Age : 66
Location : රජ්ගම

Post n°8

Re: 30% withdrawal of EPF funds

by කිත්සිරි ද සිල්වා Sat Jun 13, 2015 2:07 pm

Few did in the past and paid dearly.
Perks make everyone blind and cling to the core.
The ME first.
I see no turning point and that is why I always say to young and educated to escape before it is too late.
Do you think, Prostitutes do not know that they may catch a dreaded STD and die soon but they do not won't to leave the vocation.
Why?
We are having the same mentality.

yellow knife wrote:Which one should come first...
Egg or Chick?
Which should govern the country?
Foolish people and foolish rulers?
Why not someone say the truth even if you lose
There should be a turning point...

_________________
I am the wisest man alive, for I know one thing, and that is that I know nothing.
Socrates

yellow knife

yellow knife: Top contributor; Posts : 6980
Join date : 2014-03-27

Post n°9

Re: 30% withdrawal of EPF funds

by yellow knife Sun Jun 14, 2015 9:31 am

Regarding EPF earlier regime want to extend the accumulating period to 65 years.. Even the girls can not withdraw the EPF when they want to marry..

This proposal is good from the long term but its not justifiable as people have dreams and 55 years is the time many retire ...

So JVP lead unions rallied in FTZs and one member died.. Government had to withdraw the proposal and I admired JVP then for doing what is right for the people

New and temporary regime take many irreversible actions which are really harmful for the national security and economy but was attractive to people..

EPF 30% withdrawal is one such..There should be statesmen who can see the both side..ME FIRST people and WHAT YOU AND YOUR FUTURE GENERATION DESERVE mentalities should be well understood...

There should be a force of knowledgeable people to educate the majority..They have to do the duty of Thomas Pane of USA of Bagehot of UK

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