Below is a practical, Sri Lanka–specific checklist and plan you can use to secure steady income in retirement. I cover what the state provides, reliable income products available locally, an investment/income “ladder” you can follow, and immediate steps to take.

Key state / public supports (check these first)

• Employees’ Provident Fund (EPF): mandatory defined‑contribution scheme for most private & semi‑government employees (employee 8% + employer 12% = 20% of salary). Check your EPF balance and nominee details and understand partial withdrawal rules. (cbsl.gov.lk)
• Employees’ Trust Fund (ETF): employer‑paid 3% contribution (non‑contributory for employees). Make sure your employer has been remitting correctly. (etfb.lk)
• Government welfare/elderly allowance (Aswesuma): low‑income elderly receive a monthly allowance under Aswesuma (recently increased in 2025 under budget measures). If eligible, register through divisional secretariat/Welfare Benefits Board. (adaderana.lk)

Income sources you should consider

1. Guaranteed/low‑risk public debt

   • Treasury bills & bonds (issued by CBSL/Ministry of Finance) — good for predictable short/medium‑term yield; auction yields and availability change frequently. Use these for a portion of your “safe” income. (cbsl.gov.lk)

2. Insurance annuities and pension products

   • Sri Lankan life insurers and banks sell immediate and deferred annuities/retirement plans that convert a lump sum to a guaranteed income stream. Compare options (single life vs joint, inflation escalators, surrender/death benefits). Shop multiple insurers for quotes. (softlogiclife.lk)

3. Bank senior‑citizen deposits & specialized savings accounts

   • Many banks offer higher interest rates or accounts targeted at seniors. Use for liquidity and part of your safe income bucket. (Rates vary by bank; check current offers.)

4. Unit trusts / managed funds (income & money‑market funds)

   • Professionally managed fixed‑income and balanced funds can produce regular distributions while keeping diversification and liquidity. The unit‑trust industry in Sri Lanka has large money‑market and income funds popular with retirees. (dailymirror.lk)

5. Equities / dividend stocks & real estate

   • Use a smaller allocation for dividend income or rental income (higher return potential, higher volatility). Consider REITs/real‑estate only if you are comfortable with property management and local market cycles.

6. Part‑time work, freelancing, or small business

   • Many retirees supplement income by consulting, tutoring, remote freelancing, or running a small shop — helpful for cashflow and social engagement.

How to structure your retirement income (income ladder)

• Essential living costs (basic, non‑negotiable): cover with the most reliable income — government pension (if any), annuity payments, and short‑term government securities.
• Lifestyle & discretionary costs: cover with a mix of fixed income funds, bank deposits, and conservative dividend stocks.
• Growth/legacy: keep a smaller allocation in equities/unit trusts/real estate for inflation protection and legacy goals.

Example allocation models (illustrative only)

• Conservative: 60% annuities & government securities, 25% bank FDs & money‑market funds, 10% unit trusts (income funds), 5% equities/property.
• Balanced: 40% annuities/govt bonds, 30% fixed income funds & FDs, 20% unit trusts/equities, 10% property/other.
  Adjust based on age, health, dependents, risk tolerance, and expected lifespan.

Practical steps to take now

1. Calculate your required retirement income: list essential monthly spending, healthcare, buffer for inflation (aim for 20–30% contingency).
2. Check and consolidate entitlements:
   • Get EPF/ETF balances and ensure employer remittances are up to date; update nominees. (You can query EPF/ETF online or via labour offices). (labourdept.gov.lk)
3. Decide what portion of your lump sum to convert into an annuity vs keep invested/liquid. Get quotes from multiple insurers & read terms carefully (inflation indexing, survivor options). (softlogiclife.lk)
4. Keep 6–12 months of essential expenses in cash or very short‑term Treasury/money‑market funds.
5. Use a ladder of T‑bills/bonds for predictable recurring income (stagger maturities). Monitor CBSL auctions and yields. (cbsl.gov.lk)
6. Diversify: don’t keep everything in bank FDs or in a single asset class. Consider unit trusts for professional management and liquidity. (cal.lk)
7. Protect against currency/market shocks: if you depend on imported goods or foreign travel, consider holding some foreign‑currency assets or investments to reduce rupee‑risk (Sri Lanka’s FX environment has been volatile since 2022; monitor macro signals). (reuters.com)
8. Tax & legal basics: check tax implications of withdrawals, annuity income, and estate plans; update wills and medical directives.
9. Get professional help: consult a licensed financial planner or independent advisor in Sri Lanka to build a plan tailored to your exact numbers (income needs, assets, health).

Warnings & things to watch

• Inflation and currency moves can erode purchasing power; plan for some inflation‑protected or growth oriented assets. (reuters.com)
• Annuities provide security but reduce liquidity — don’t lock away all your capital.
• Confirm that employers have been paying EPF/ETF; missing contributions are common and need correcting early. (etfb.lk)

If you want, I can:

• show a simple retirement‑income calculator worksheet (monthly needs vs assets), or
• sketch one sample allocation using your age, total savings, and monthly target income.

Which would you prefer?