Employees’ Trust Fund Board

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Type
State Owned Enterprise
Industry
Banking and Finance

The Employees’ Trust Fund Board currently operates under the purview of the Ministry of Finance with the objective of promoting employee ownership, employee welfare and economic democracy through participation in financing and investment. The Operational areas of ETFB can be broadly divided into Collection & Employer Relations, Member Services and Investments. The Contribution Collections and Employer Relations Division involves the timely collection of contributions from employers, collection of surcharges, finding defaulters/ non contributors, and taking legal action against defaulters. The Investment Division is set up to manage the Investment Portfolio of the Board. The prime objective of this unit is to earn optimum returns while maintaining safety of investments and liquidity. The main functions of the Member Services Division include updating and maintaining Member Accounts, issuing Annual Member Statements (AMS) to members, speedy processing of General Benefits (Normal & Death Claims) and maintaining other Welfare Benefit Schemes for the active members. The ETF was founded in 1980 and is headquartered in Colombo.

ROA
6.2
Governance
50
Profits/Losses
LKR 32,500,000

Governance Indicators

A systematic measure of how well this SOE is managed.

2019

Year of the most recent Annual Report available online

1

Have Annual Reports for the last five years been tabled in Parliament?

2

Does the Annual Report include the mandatory provisions set out in the PED guidelines?

1

Is the Audit Clean / Qualified / Disclaimer?

0

Is the information pertaining to the RTI officer available on the website?

0

Does the SOE respond to an RTI within the timeframe specified in the Act?

1

Does the SOE have a website?

1

Does the SOE website contain sufficient organtisational details?

1

Does the SOE website contain tender and procurement details?

Annual Report
Auditing Standards
Rights to Information
Accessibility of Information

Interpretation of the indicators

Good
2
Average
1
Bad
0

Financials

Available Financial data for the last few years.

Year Turnover (LKR) Total Assets Profit/Loss Total Debt Total Liabilities Total Equity Operational Profits ROA
2020
34,729,000
Data Not Available 32,500,000 Data Not Available Data Not Available Data Not Available Data Not Available
Data Not Available
2019
31,583,332
312,511,143
15,835,882 Data Not Available
3,273,335
341,423,177
19,990,967
4.8
2018
28,330,988
312,511,143
14,848,086 Data Not Available
3,621,116
308,890,027
18,304,295
5
2017
27,303,884
280,861,175
17,152,734 Data Not Available
1,625,632
279,235,543
19,931,948
6.5
2016
18,980,056
250,480,519
14,349,014 Data Not Available
1,533,106
248,947,413
17,082,125
6.1
2015
19,833,312
222,540,319
18,033,974 Data Not Available
599,187
221,941,132
18,109,084
8.6

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