Kerala's Pension Push: A Boost for Social Security

The Kerala government has allocated Rs 841 crore to distribute social security and welfare pensions among 62 lakh beneficiaries for September. Each beneficiary will receive Rs 1600 from September 25. The state has also allocated Rs 24.21 crore in anticipation of the central government's share for the National Pension Scheme.

The Kerala government has announced a significant step towards enhancing social security, distributing Rs 841 crore in welfare pensions to 62 lakh beneficiaries for the month of September. Finance Minister K N Balagopal confirmed the move, set to provide Rs 1600 to each eligible individual starting September 25.

Of the total beneficiaries, 26.62 lakh people will have the pension directly deposited into their bank accounts, while the remainder will receive their pensions at home through cooperative banks. This comprehensive distribution effort underscores the state's commitment to social welfare.

Balagopal emphasized the urgency for the union government to contribute its share of the National Pension Scheme to assist 8.46 lakh people. The state has provisioned Rs 24.21 crore in advance, anticipating central government support to be allocated via the Public Financial Management System (PFMS).

(With inputs from agencies.)