Employee reward and benefits news
Sri Lankan woman waits 50 years to draw pension
A Sri Lankan woman has finally drawn her pension 50 years after retiring, it has been revealed.
The Sri Lankan government's director general of pensions has told the Daily Mirror that Lilie Rasamanie Ponnadurai delayed drawing her savings until she was 100 years old.
As the pension will be paid in arrears, Ms Ponnadurai, who now lives in Kuala Lampur, Malaysia, will receive around Rupees 10 lakhs (�5,580) per month, according to the newspaper.
So far, without reimbursement by the Sri Lankan government, her pension has been paid by the Malaysian government.
Speaking to Lanka Business Online last month, International Monetary Fund managing director Dominique Strauss-Kahn underlined the risk that money could flow out of the country's economy due to financial overheating and credit and asset bubbles.
He highlighted the need for an effective financial safety net to prevent this from happening - deeming such a strategy "absolutely essential" for a stable economy.
Posted by David Farrior
