All MP positions become simultaneously vacant for elections held on a five-year cycle. If a vacancy arises at another time, due to death or resignation, then an electoral district vacancy may be filled by the second highest scoring candidate in the last election from that electoral district.
Title
An MP is known as The HonourableName MP or simply as the Name MP, during their term in office. For instance, Eran Wickramaratne is generally known to be entitled as the Hon. Eran Wickramaratne MP but can be titled as just Eran Wickramaratne MP.
Salaries and benefits
An average MP would earn more than Rs 270,000 including salary and other benefits, in-addition of attendance allowances.
Basic salary
A Member of Parliament will receive a salary of Rs 54,285 paid monthly by the parliament, while Ministers, Deputy Ministers and State Ministers will receive a salary applicable to their grade from their Ministries.
Allowances
In addition to the monthly salary, MPs are entitled to several additional allowances. MPs who do not hold a ministerial appointment, would receive an additional entertainment allowance of Rs 1000 and drivers allowance of 3000 per month. All MPs are entitled to a daily sitting allowance and committee allowance of Rs 2,500 each per sitting. ;Travel allowance Each member is entitled to a fuel allowance based on the distance from parliament to their electoral district.
Office expenses
Each MP is entitled to a monthly office allowance of Rs 100,000, telephone allowance of Rs 50,000 and transport allowance for personal staff of Rs 10,000 for 4 personal staff to office. At the start of each term an MP has an allowance to purchase office equipment such as a computers, copier and fax machine. They are entitle to an annual free postal facility allowance of Rs 350,000, which was increased from Rs 175,000 in 2019.
Other benefits
;Tax benefits Members claim tax exemptions on their pay and allowance at it has been deemed an honorarium. ;Duty free verticals Each member is entitled to import a high value luxury vehicle with a high engine capacity without paying import duty that is normally charged under a duty free permit each term of office. Accusations have been risen on the misuse of this benefit by members, who allow others to import super luxury vehicles under their name and use. Ministers are in-addition allocated two vehicles form their respective ministry in addition to said privilege. ;Housing and vacationing Members from constituencies from out side Colombo may receive housing at the Madiwela Housing Complex or an allowance to rent a house. In addition, MPs and their families have exclusive use of the General's House, which is a nineteen-roomed holidaybungalow in Nuwara Eliya maintained by the members' services office of the department of administration of the parliament secretariat. ;Other subsidies Members are entitled to subsidized meals in the members dining area at parliament. Young Members of Parliament without higher educational qualifications receive direct admission to the Sri Lanka Law College without setting for its entrance exam. ;Pension On the completion of a term, an MP becomes entitled to a government pensionfor life.
