Kerala govt sanctions Rs 841 crore for monthly welfare pension

Thiruvanthapuram | Kerala government has released Rs 841 crore for distributing social security and welfare pensions among 62 lakh beneficiaries in the state for the month of September.

The eligible beneficiaries would receive Rs 1600 each from September 25, Finance Minister K N Balagopal said here on Tuesday.

"A total of Rs 841 crore has been sanctioned for distributing pensions for the month of September," he said in a statement.

Of the total 62 lakh beneficiaries, 26.62 lakh people would receive the pension amount in their bank accounts. The amount would be distributed among the rest of the beneficiaries at their houses through the cooperative banks.

The union government has to provide the central share of the National Pension Scheme to ensure the benefits to 8.46 lakh people, the minister said.

The state has also allocated Rs. 24.21 crore for this on an advance basis, he explained.

The union government's share should be credited to the bank accounts of the respective beneficiaries through the Centre's Public Financial Management System (PFMS), he said.

The state government has so far spent Rs 42,841 crore on welfare pension distribution, Balagopal added.