ETF goes on-line

Contributors to the Employees’ Trust Fund (ETF) could check their balance statements and furnish their claim applications to the ETF Board through the internet and mobile phones, a facility launched by the ETF Board with the Information Communication Technology Agency (ICTA).

The online viewing of ETF balances and making claims was launched in Colombo last week.

ETF Board Chairman K. M. A. Godawatte said that with the online system the cumbersome and time-consuming paper work will come to an end. Members need not come all the way to the ETF office from far off places any longer to check balance statements or make claim applications.

They could log into the online network with their log in number provided by the employer or the ETF Board to obtain information.

“This has been a long-felt need that has come through and we are confident it will enhance efficiency and speedy delivery of service to members. The ETF has modernised its facilities in keeping with fast changing technology. The new facility will be handy as there are a large number of mobile users and those with access to internet.The ETF has around 13 million accounts and receives around Rs. 1,400 million a month as contributions. It has about Rs. 180 billion in funds of which about Rs. 9 billion has been invested in the stock market. The ETF gets about 13,000 claims a month. Replying to all claims is a hectic task. Sri Lanka has moved up in the e-governance ranking and it is ranked 33 among 96 countries in electronic services.Secretary to the President Lalith Weeratunga said that Rs. 1 billion has been allocated through the 2015 Budget for the ICT sector which will enhance the IT literacy rate which is around 50 percent.

 - LF