RPG Group Chairman Harsh Goenka on Monday highlighted Sri Lanka's decision to abolish pensions for parliamentarians, arguing that public office should not come with lifelong financial entitlements.
Reacting to his post, businessman Arvind Singhal questioned the continued privileges available to former political leaders and judges in India.
"Sri Lanka has abolished pensions for its parliamentarians. Public office is a responsibility, not a lifelong entitlement. Taxpayer money must serve the people, especially with pressing needs in healthcare and education," Goenka wrote on X.
Sri Lanka has abolished pensions for its parliamentarians. Public office is a responsibility, not a lifelong entitlement. Taxpayer money must serve the people, especially with pressing needs in healthcare and education. Time to rethink political privileges in India?
Responding to Goenka's post, Arvind Singhal, Chairman of The Knowledge Company LLP, argued that pensions were only one part of a larger system of taxpayer-funded privileges.
"Much worse than the pensions, Mr. Goenka, are lifelong perks for select legislators & parliamentarians e.g. former CMs, PMs, Presidents, VPs, and even their families long after the demise of the office holder," Singhal wrote.
He also questioned the post-retirement benefits available to members of the higher judiciary. "And then, the post-retirement perquisites for our High Court & Supreme Court judges are another incredible form of continuation of a modern-day 'privy purse'," he added.
Sri Lanka's Parliament abolished pensions for lawmakers on February 17, 2026, fulfilling an election promise made by President Anura Kumara Dissanayake's government.
The Parliamentary Pensions (Repeal) Bill passed with 154 votes in favour and two against in the 225-member legislature. The Speaker endorsed the legislation the same day, making it the Parliamentary Pensions (Repeal) Act, No. 5 of 2026.
The law repealed the Parliamentary Pensions Law of 1977, which allowed lawmakers to qualify for pensions after completing five years in office.
Under the new legislation, former parliamentarians who were already receiving pensions also lost their entitlement to future payments.
The decision followed Sri Lanka's economic crisis, which triggered widespread public anger over government spending and political privileges.
The government had also moved to remove benefits enjoyed by former presidents, including official residences, allowances and other facilities.
Business Today brings you the latest news, views and analysis from the world of finance, economy, markets, corporates, startups, tech, and the digital economy. You can find everything from breaking news to deep dives to immersive essays and more on a variety of subjects across all formats - online, magazine, television, data visualisation, et al.
Copyright © 2026 Living Media India Limited. For reprint rights: Syndications Today. India Today Group.
Loading comments…