Sri Lanka MPs vote overwhelmingly to scrap their pensions in post-crisis reform move

Sri Lankan legislators have overwhelmingly voted to scrap their pensions, as the Marxist-leaning government fulfills a key campaign promise AsiaSouth AsiaSri Lanka MPs vote overwhelmingly to scrap their pensions in post-crisis reform moveSri Lankan legislators have overwhelmingly voted to scrap their pensions, as the Marxist-leaning government fulfills a key campaign promiseBharatha Mallawarachi Wednesday 18 February 2026 05:10 GMTBookmarkBookmark popoverRemoved from bookmarksClose popoveropen image in gallerySri Lanka Independence Day (AP)Your support helps us to tell the storyRead moreSupport NowFrom reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.Your support makes all the difference.Read more Sri Lankan legislators overwhelmingly voted Tuesday to scrap their pensions, in a bid to fulfill a key preelection campaign promise by the ruling Marxist-leaning government following anger over the country's economic crisis.Lawmakers passed the bill on Tuesday by 154 votes in the 225-member House, with only two against. The remaining legislators were not present during the vote.In Sri Lanka, a lawmaker was previously entitled to a pension after serving a five-year term. The new law stops payments to anyone who already receives, or qualifies for, the pension. President Anura Kumara Dissanayake, voted into office in 2024, pledged to end the practice during his election campaign. In a similar move, Dissanayake's government abolished perks provided to former presidents in September in response to popular demand. Those included state funding for housing, allowances, pensions and transport. An office and a staff for former presidents and their widows were also scrapped. There are currently five living past presidents and a widow.Dissanayake won the vote, riding on public resentment against politicians accused of being responsible for the country’s worst economic plight in 2022. The crisis led to a severe shortage of food, medicine, fuel and electricity, and triggered protests that forced then-President Gotabaya Rajapaksa to resign.open image in gallerySri Lankan president Anura Kumara Dissanayake (Copyright 2025 The Associated Press. All rights reserved.)Justice Minister Harshana Nanayakkara presented the bill in parliament, saying an election promise had been fulfilled and that lawmakers had no moral right to receive a pension at a time when the country was struggling to emerge from its worst economic crisis.Sri Lanka declared bankruptcy in April 2022 with more than $83 billion in debt, more than half it to foreign creditors. It sought the help of the International Monetary Fund, which approved a $2.9 billion four-year bailout package in 2023, under which Sri Lanka was required to restructure its debt.The island-nation said it had concluded the debt restructuring process after reaching agreements with bilateral and multilateral creditors and private bondholders. Sri Lanka is seeking to obtain $17 billion in debt service relief.Sri Lanka’s crisis was largely the result of economic mismanagement combined with fallout from the COVID-19 pandemic, along with the 2019 terrorism attacks that devastated its important tourism industry. The pandemic also disrupted the flow of remittances from Sri Lankans working abroad.More aboutSri LankanColomboAnura Kumara DissanayakeInternational Monetary FundGotabaya RajapaksaCovidMost popularPopular videosBulletinRead next