Thiruvananthapuram | The Kerala government on Friday issued another instalment of social security and welfare fund pension to beneficiaries.

Around 62 lakh people will get Rs 1,600 each, state Finance Minister K N Balagopal said, adding the pensioners will start getting the amount from Wednesday next.

The amount will reach the bank accounts of 26.62 lakh people. For others, the pension will be handed over to them at home through cooperative banks, he said in the release.

Three installments of pension were distributed as part of the Onam festival. The monthly pension distribution has been ensured since last March. After the LDF government assumed office, about Rs 33,000 crore was allocated for the distribution of welfare pension, he said.

Kerala has implemented the most comprehensive social security pension scheme in India. A total of 98 per cent of the money required for this is being spent by the state, while the Central share is only two per cent.

Of the 62 lakh welfare pension beneficiaries, 5.88 lakh get an average assistance of Rs 300 from the Central government. Around Rs 400 crore due from July 2023 till October is outstanding in Central government allocation, the release said.