Express mode for ETF settlements
By Nilika de Silva
An express system whereby employees are able to obtain their monies lying with the Employees Trust Fund (ETF) on a payment of Rs. 1000 per claim has been introduced by the Board, ETF Chairman Dinesh Weerakkody said yesterday.

Claims categorised as, 'express' are dispensed within two days, 'special' dispensed within two weeks and 'normal' within 21 days. Previously a period between one to six months was required to obtain ETF refunds.

"We found about 20 people requesting for the express service every day," Mr. Weerakkody said, that this was purely voluntary choice.

He explained that 80 percent of the monies in the fund comes from 25 percent of our population.

"I've found that we're neglecting that 25 percent whose contributions maintain the fund and always catering to the balance 75 percent. There are about 10,000 outstanding ETF claims at present.

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