Organisation : Sri Lanka Social Security Board (SSB)
Facility Name : Arassawa Pension Scheme
Applicable For : Children under 18 years of age
Applicable Country : Sri Lanka
Website : https://ssb.gov.lk/?page_id=14
What is Arassawa Pension Scheme?
“Arassawa” scheme is a pre plan pension scheme for the children under 18 years of age. As when the child complete age of 18 , they automatically transfer to the ‘Surekuma’ scheme. Membership is given under the guardianships and payments has to do only until 18 years of age.
Related / Similar Scheme : SSB Manusavi Pension Scheme Sri Lanka
Benefits of Arassawa Pension Scheme
“Arassawa” preplaned Social Security Benefit scheme is executed under the parents or guardians who could enroll the children, who are below the age of 17 years under their guardianship. Once the children complete their 17 years of age, they are transferred to “Surekuma” monthly pension payment scheme and they become entitled to a pension at 60 years of age, and the amount receivable depends on the balance accumulated on their behalf
Benefits of Educational Milestones:
1. When Passing Grade 5 Scholarship Examination by taking the minimum Cut of Marks, a benefit of 50% from the ageed value of pension will be owned. Eg :– Rs.50,000 is granted if the minimum pension is Rs. 100,000
2. In case the members has passed the G. C. E. (Ordinary Level) Examination with 05 Distinction Passes, a benefit equaling to the pension will be owned. Eg :– Rs.100,000 is granted if the minimum pension is Rs. 100,000 “Arassawa”
3. In case the member has been selected to the National University, having passed the G. C. E (Advanced Level), a benefit equaling to the double value of the pension will be owned. Eg :– Rs.200,000 is granted if the minimum pension is Rs. 100,000
Other Benefits:
After completing the age of 18 years, the member will be granted the membership of the “Surekuma” pension Scheme and then he/ she will be entitled to all benefits of Surekuma Pension Scheme.
** Lifetime monthly pension starting from the age of 60 years
** Pension to the spouse
** Death Gratuity
** Permananet and partial disability benefits
** Permanent and completed disability benefits
Other Conditions:
1. In order to receive educational benefits, the contribution must have been made one year before the date of the examination in case of payment in installments, and the membership must have been obtained before the date of the examination in case of lump sum payment.
2. In order to be entitled to education leave benefits (additional benefits), one must have contributed towards a pension of Rs.10, 000 or more.
Required Documents:
** Child’s birth certificate or National Identity Card (NIC).
** Guardian’s NIC.
** Completed Arassawa application form (Sinhala/Tamil versions available on the website).
** Two passport-sized photographs of the child (one for the application and one for the membership card).
** Proof of child’s address (e.g., utility bill).
** Initial contribution payment (amount depends on chosen contribution plan).