Building a Social Security System in Sri Lanka

Key Takeaways

• A survey by the Right to Life Human Rights Centre found that 37 per cent of Sri Lanka’s population were dissatisfied by Aswesuma – a social security system targeted at the poorest members of society – and only 22 per cent were satisfied.
• Public trust in the state is undermined by the poor targeting of Sri Lanka’s poverty benefits.
• Building a social security system that offers income support to everyone in society, as they move through their lifecycle (from childhood to old age) has to be the viable solution.
• UNICEF proposes a cash benefit of Rs. 5,000 per month to every child, a disability benefit of Rs.10,000 per month, and an old age pension of Rs.10,000 per month.
• A social security system introduced gradually over time would commence at 1.3 per cent of GDP in the first year rising to 1.8 per cent by 2040, and it would reach over 80 per cent of households.