Thiruvananthapuram | The social security and welfare fund pension beneficiaries in Kerala will receive Rs 3,600 each in the month of November, state Finance Minister K N Balagopal said on Friday.
A sum of Rs 1,864 crore has been allocated for the purpose, the minister said in a statement here.
The increased pension of Rs 2,000 will be distributed in November itself. Along with that, the last instalment of Rs 1,600 as arrears will also be provided, he said.
The pension distribution will start from November 20.
He said Rs 1,042 crore has been allocated for the increased pension distribution and Rs 824 crore for the one-time payment of arrears.
With this, the welfare pension arrears are being paid in full, the finance minister said.
Due to the severe financial crunch faced by the state in the 2023-24 financial year, with the central government's stringent policies, the pension distribution was delayed for five months during the period, he said.
The chief minister had announced the schedule for the pension distribution in the Assembly in July 2024 and accordingly, two instalments of the arrears were paid in the last financial year.
The distribution of the remaining two instalments was completed in the middle of the current financial year. From April 2024, the pension has been reaching the beneficiaries in the respective month.
“Kerala is the only state in India that has such a comprehensive social security scheme, ensuring a universal welfare pension,” the minister said, adding, around 62 lakh people are receiving pensions every month without fail.
Pension is being distributed to about half of the beneficiaries through bank accounts and to the rest through cooperative banks at their homes. The increased pension distribution will require about Rs 1,050 crore per month, he said.
He said only 8.46 lakh people receive the central share of welfare pension. Individuals receive an average of Rs 300 a month from the central government and the state's allocation is Rs 400 crore for the purpose.
The welfare pension has gradually increased from Rs 600 to Rs 2,000 during the two successive terms of the LDF government, the minister said.