Sri Lanka, Jan. 15 -- A leading corporate legal expert has urged the government to engage in meaningful consultation with the private sector, including the Ceylon Chamber of Commerce, before proceeding with the proposed conversion of the Employees' Provident Fund (EPF) into a pension scheme.

The call for stakeholder engagement follows a recent announcement by Labour Deputy Minister Mahinda Jayasinghe, who revealed that the government is considering formulating a mechanism to pay the EPF benefits as a monthly pension, rather than the traditional lump-sum payment upon retirement.

Sudath Perera Associates Partner and Head of Corporate and Commercial Law Dushyantha Perera cautioned that if the government is serious about implementing such ...