SSB Manusavi Pension Scheme : Sri Lanka Social Security Board

Organisation : Sri Lanka Social Security Board (SSB)
Facility Name : Manusavi Pension Scheme
Applicable For : Migrant workers who are in 18-59 years of age
Applicable Country : Sri Lanka
Website : https://ssb.gov.lk/?page_id=14

What is SSB Manusavi Pension Scheme?

“Manusavi”scheme is for the migrant workers who are in 18 -59 years of age the members can choose the payment option according to the period of time they working abroad. The pension starts from age 60. The pension amount and the payment option could be decided by the member on their desire.

Related / Similar Scheme : SSB Surekuma Pension Scheme Sri Lanka

Benefits of SSB Manusavi Pension Scheme

I. Monthly Pension:
The member is entitled to a monthly pension from the age of 60 years till the end of his life.

II. Pension for spouse or nominee:
In case the member dies before the completion of 80 years as a pensioner, (deaths in between the age 60-80)
** The spouse or a nominee of the member is entitled the monthly pension till 80 years of age completion of the member.
** In the absence of spouse or a nominee, member’s inheritors can withdraw the net contribution and interest deposited in the member’s account.

III. Death Gratuity:
** In case of your death before retirement (before age 60) as a result of accident or illness, a death gratuity and the money deposited with us in the name of the member along with interest accrues to the inheritors.

** If an expatriate dies in abroad while contributing to this pension scheme, his spouse or a dependent will be entitled to the pension. Accordingly they are entitled to monthly pension and other benefits of the scheme from their age of 60 years onwards.

IV. Permanent Partial Disability Benefits:
Gratuity for permanent partial disability as a result of accident or illness.

V. Permanent Total Disability Benefits:
In case of permanent total disablement of a member as a result of accident or disease, monthly pension from that date till his death without any further installments.

VI. Retirement Gratuity:
When a member for this pension scheme receives benefits on completion of 60 years of age (along with the first pension payment) will be paid 5% of the total amount remitted in foreign currency for this pension scheme by himself, as retirement gratuity consistent with the exchange rate at the date of completion of contribution.

The members of this pension scheme are entitled to receive benefits (Retirement Gratuity) on completion of 60 years of age (along with the first pension payment) and will be paid 5% of the total amount remitted in foreign currency for this pension scheme by himself, as retirement gratuity consistent with the exchange rate at the date of completion of contribution.

Where To Apply For Membership?

Membership of the pension scheme can be obtained through the officials of Social Security Board or the officials of Foreign Employment Bureau attached to the following institutions.

** Foreign Employment Bureau Head Office,
** Foreign Employment Bureau District Offices,
** Foreign Employment Bureau Airport Branch and
** Offices of the Sri Lanka Social Security Board

Additional Simplified Procedure

The Manusavi Pension Scheme is a great option for Sri Lankan migrant workers to secure their retirement. Here’s a guide on how to apply:

Eligibility:
** Be a Sri Lankan citizen aged 18-59 years old.
** Be currently employed overseas or have previously worked abroad for at least 6 months (cumulative).
** Not be a member of any other Sri Lankan pension scheme.

Application Process:
Gather Documents:
** Valid Sri Lankan passport.
** Work Permit/Contract of Employment from overseas employer.
** Bank account details in Sri Lanka (for receiving pension).
** Recent passport-sized photograph.
** Completed Manusavi Pension Scheme application form (available online or at Sri Lanka Social Security Board (SSB) offices).

Choose Contribution Plan:
** Decide on your monthly contribution amount.
** Select your desired contribution period (minimum 12 months).
** This will determine your future pension amount. Use the Manusavi Pension Calculator on the SSB website to plan your contributions.

Submit Application:
Submit the completed application form with all required documents to:
** The nearest SSB office in Sri Lanka.
** Any Sri Lankan consulate/embassy abroad.
** Online through the SSB e-Application system (currently in pilot phase).

Make Contributions:
** Pay your chosen monthly contribution through authorized channels using the provided reference number.
** You can contribute from Sri Lanka or your overseas bank account.

Additional Information:
** Manusavi is a voluntary scheme, but regular contributions are key to maximizing your pension benefits.
** You can adjust your contribution amount or period once during the first year of membership.
** Early withdrawal is possible under specific circumstances, but with penalties.
** Visit the SSB website or contact the nearest SSB office for detailed information and assistance.