Kerala Accelerates Pension Payments Ahead of Vishu Festival

The Kerala government has preponed the April pension installment for its social security and welfare fund beneficiaries to be disbursed before the Vishu festival on April 14. Approximately 62 lakh pensioners will receive Rs 1,600 each, with a total allocation of Rs 820 crore for this initiative.

The Kerala government has accelerated the disbursement of social security and welfare fund pensions to coincide with the Vishu festival. State Finance Minister K N Balagopal announced that pensioners will receive their April payments earlier than usual as part of a Rs 820 crore allocation.

Normally disbursed in May, the April installment will now be credited to pensioners' accounts before April 14. This adjustment will benefit approximately 62 lakh people, each receiving Rs 1,600. More than 26 lakh beneficiaries will find their pensions deposited directly into their bank accounts.

Additionally, the state has provisioned Rs 24.31 crore in advance, with the central government's Public Financial Management System facilitating the transfer of funds for 8.46 lakh National Pension Scheme beneficiaries.

(With inputs from agencies.)