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CEB restructuring: Employees offered VRS compensation up to Rs. 5 million
View(s):The Energy Ministry has announced terms and conditions of the voluntary retirement scheme for Ceylon Electricity Board employees who do not opt to be assigned to any of the four companies being formed under the restructuring of the CEB.
These regulations, cited as the Sri Lanka Energy Electricity (Terms and Conditions of Voluntary Retirement Scheme) Regulations of 2025, have been framed by Energy Minister Kumara Jayakody.
The compensation payable under the voluntary retirement scheme to employees who are serving under the permanent cadre of the CEB has been structured into several categories.
Employees who count ten years or more than ten years of service will get two months’ salary for every twelve months of past service and 1.5 months’ salary for every 12 months of service foregone.
Employees who count less than ten years of service will be entitled to five months’ salary for every twelve months of past service, and no payment will be made for the service foregone.
The compensation paid will be subject to a minimum limit of Rs. 900,000 and a maximum of Rs. 5 million.
The compensation payable to the employees who are not categorised as employees serving under the permanent cadre of the CEB, excluding the employees serving under the contractual agreements, will be two months’ salary for every 12 months of past service with minimum compensation of 12 months’ salary.
Employees subject to disciplinary enquiries or whose status is in question in any tribunal shall not be eligible to apply for the voluntary retirement under these regulations.
All outstanding dues from respective employees shall be recovered from the compensation payable under these regulations.
Any employee who voluntarily retires under the voluntary retirement scheme and is payable with the compensation specified under these regulations shall not be employed in any successor company under any circumstance.
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