Sri Lanka's Parliament has officially abolished pensions for its lawmakers, a significant move that fulfills a key election promise and has ignited a debate in India concerning political entitlements.
Sri Lanka's Legislative Action
On February 17, 2026, the Sri Lankan Parliament passed the Parliamentary Pensions (Repeal) Bill with an overwhelming 154 votes in favor and just two against in the 225-member legislature. This legislation, subsequently endorsed by the Speaker, became the Parliamentary Pensions (Repeal) Act, No. 5 of 2026.
The new law effectively repealed the Parliamentary Pensions Law of 1977, which had previously allowed lawmakers to qualify for lifelong pensions after serving a minimum of five years in office. Crucially, the repeal extends beyond new entrants; former parliamentarians who were already receiving pensions under the old system will also lose their entitlement to future payments.
This decision comes in the wake of Sri Lanka's severe economic crisis, which had fueled widespread public discontent over government spending and the perceived privileges of its political class. The government has also initiated efforts to remove other benefits enjoyed by former presidents, such as official residences and allowances.
India's Political Perks Under Scrutiny
The bold step taken by Sri Lanka quickly drew attention in India, prompting prominent business leader Harsh Goenka, Chairman of the RPG Group, to question the continued practice of political perks in his own country.
Goenka took to social media, stating, “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?”
Beyond Pensions: A Broader Debate
Responding to Goenka's remarks, Arvind Singhal, Chairman of The Knowledge Company LLP, broadened the discussion, arguing that pensions are just one aspect of a larger issue 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 further questioned the post-retirement benefits extended to members of India's higher judiciary, describing them as “another incredible form of continuation of a modern-day 'privy purse'.”
The debate highlights a growing public demand for accountability and efficient use of public funds, drawing parallels between the economic realities faced by nations and the perceived entitlements of their political leaders.