19.02.2026 07:40
The Sri Lankan parliament has overwhelmingly approved a bill that abolishes the pensions of members of parliament as part of efforts to combat the country's deep economic crisis; the law will halt current and future payments, and the decision is seen as a significant step towards reducing political privileges and controlling public spending.
The South Asian country of Sri Lanka has made a notable decision in parliament while battling one of the heaviest economic crises in its history. The country approved a bill that foresees the complete abolition of pensions provided to members of parliament.
APPROVED BY PARLIAMENT MAJORITY
In the Sri Lankan parliament, the bill presented as part of the country's efforts to combat financial difficulties was approved with 154 "yes" votes in the 225-member assembly; only two members voted against it, and the rest did not participate in the vote. With the new law, the pension scheme for members of parliament will be terminated, and payments to those who currently receive or are entitled to receive this allowance will also be halted.
ELECTION PROMISE AND IMPACTS OF THE CRISIS
President Anura Kumara Dissanayake had promised during the 2024 election campaign that the pensions for members of parliament would be abolished. Justice Minister Harshana Nanayakkara stated while presenting the bill that it was "morally unjustified" for members of parliament to receive pensions while the country is still trying to recover from the economic crisis.
Sri Lanka defaulted in 2022 with a debt burden exceeding approximately 83 billion dollars and faced issues such as food, fuel, and medicine shortages. This crisis had increased public reactions against political privileges, and the decision to abolish pensions for members of parliament is being evaluated in this context. The country later entered a reform process by reaching a 2.9 billion dollar bailout agreement with the International Monetary Fund (IMF).
POLITICAL AND SOCIAL REACTIONS
The decision is perceived both as an indication that the government is taking concrete steps against the crisis and as a symbolic reform aimed at reducing public spending and limiting political privileges. The abolition of pensions for members of parliament is presented as a step towards a more equitable distribution of the economic burden on the public.