Capital Reach’s new senior citizens deposit scheme

Capital Reach Leasing Ltd (CRLL) introduced ‘Garusaru,’ senior citizen’s deposit scheme aimed at meeting the needs of society’s ageing population.

Managing Director of CRLL Nalin Wijekoon said in a press release this deposit scheme has been specially designed for senior citizens taking into consideration the many factors involved.

The company said a developing country like Sri Lanka was not economically viable to provide retirement facilities as those offered in developed nations. Statistics also reveal the job opportunities available in the state sector are narrowing while that available in the private sector is expanding. “In recent times various governments introduced new proposals to replace the existing pension schemes due to enormous pressure from bilateral and multilateral organizations.

Most proposals were in line with the gratuity system and provident fund system existing in the private sector, where the employee receives a lump sum payment on their retirement,” the release said.

A special feature in this deposit scheme is a chance every year for one lucky depositor to win a pilgrimage to Buddha Gaya, Madurai Meenachi, and Velankanni in India or Mecca.