Kerala govt allocates funds for social security pensions amid financial challenges

Thiruvananthapuram | Carrying out its welfare initiatives, the LDF government in Kerala allocated funds on Monday for disbursing one month of social security pensions to 62 lakh people in the state.

In a statement, Kerala Finance Minister K N Balagopal said that around 62 lakh pensioners would receive Rs 1,600 each within this week.

For 26.62 lakh people, the amount will be transferred directly to their bank accounts, while the others will receive it through cooperative banks, with the payments delivering to their homes.

Despite financial challenges, the government is committed to ensuring the timely distribution of monthly welfare pensions, he added.

Earlier, three installments of the pension were disbursed as part of the Onam festivities in August.

Since March, monthly pension distributions have been ensured. Since this government took office, around Rs 32,100 crore has been distributed as welfare pensions, Balagopal said.

He also highlighted that Kerala has implemented the most comprehensive social security pension scheme in India, noting that "98 per cent of the funds required for this are sourced from the state, with only two per cent coming from the central government." Out of the 62 lakh beneficiaries, only 5.88 lakh people receive an average of Rs 300 as assistance from the central government. In Kerala, pensioners receive Rs 1,600 per month, with the remaining amount covered by the state.

The minister pointed out that the central government's contribution has been delayed by Rs 375.57 crore for the period from July 2023 to September.