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According to the 2012 Census, the total population of Sri Lanka is 20.2 million, indicating that the annual average growth rate of the population had declined to 0.71% from 2001 to 2012. This is mainly attributed to declining birth rate, low death rate and an increase in out migration, reflecting the demographic transition of the population.

These changes in the population composition have brought about challenges that need urgent attention. These include: 

1. Managing the Demographic Bonus.

2. Saving up for the Increasing Dependency.

3. Preparing for an Ageing Population.