Cabinet gives green light to offer VRS to employees of Sri Lanka Savings Bank

The Cabinet of Ministers approved the proposal presented by the President in his capacity as the Minister of Finance, Economic Stabilization and National Policies to implement a voluntary retirement scheme (VRS)  for employees of the Sri Lanka Savings Bank.

A payment is to be made to employees who retire voluntarily.

The Sri Lanka Savings Bank became a wholly owned subsidiary of the  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.