A Voluntary Retirement Scheme (VRS) will be introduced for the employees of Sri Lanka Savings Bank, which was consolidated under the National Savings Bank (NSB) in 2019. 

In an effort to streamline operations and manage the transition smoothly, the National Savings Bank will absorb both the assets and liabilities of Sri Lanka Savings Bank, including its workforce, the government said. 

Accordingly, the VRS proposed by President Ranil Wickremesinghe in his capacity as the Minister of Finance, Economic Stabilization and National Policies was approved by the Cabinet of Ministers. 

Cabinet Spokesman Minister Bandula Gunawardena stated that employees who choose to retire voluntarily will receive payments based on various market factors, ensuring the arrangement is both fair and beneficial to employees. (Newswire)

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