Kerala's Comprehensive Social Security Pension Initiative

Kerala government has distributed another round of social security pensions to approximately 62 lakh beneficiaries. Each recipient will receive Rs 1,600. The pension is primarily financed by the state, with minimal contribution from the Central government. Outstanding Central allocations total approximately Rs 400 crore.

The Kerala government has announced the release of another installment of social security and welfare pensions, benefiting around 62 lakh people. Each beneficiary will receive Rs 1,600, as confirmed by State Finance Minister K N Balagopal. Distribution is set to commence from the upcoming Wednesday, reaching 26.62 lakh recipients via bank accounts, while the remainder will be serviced at home through cooperative banks.

This initiative follows the previous three pension disbursements aligned with the Onam festival, ensuring a consistent monthly distribution since last March. Under the leadership of the LDF government, approximately Rs 33,000 crore has been allocated for welfare pensions. This substantial financial commitment underscores Kerala's launch of India's most comprehensive social security pension scheme, with a staggering 98% of the funding sourced from the state, leaving a mere two percent contribution from the Central government.

Despite the Central government's limited financial involvement, with 5.88 lakh beneficiaries receiving a modest Rs 300 assistance, approximately Rs 400 crore from the Central allocation remains overdue from July 2023 to October. This shortfall highlights a significant consideration for the state's fiscal plans.

(With inputs from agencies.)