Thiruvananthapuram | The beneficiaries of social security and welfare fund pensions in Kerala will receive two instalments in August as an ‘Onam gift,' state Finance Minister K N Balagopal said on Friday.

In an official release, Balagopal stated that Rs 1,679 crore has been allocated for the purpose. Around 62 lakh people will receive Rs 3,200 each, including one instalment of arrears.

The pension distribution will begin from August 23, with Rs 3,200 directly credited to the bank accounts of 26.62 lakh beneficiaries.

For others, the pension will be delivered to their homes through cooperative banks.

Under the National Pension Scheme, the central government will pay the central share to 8.46 lakh beneficiaries.

The state has also sanctioned Rs 48.42 crore in advance, which will be credited to recipients' accounts via the central government's Public Financial Management System (PFMS), the release added