Kerala's Pioneering Welfare Pension Scheme: A Commitment Amidst Financial Challenges

The LDF government in Kerala has allocated funds for one month's social security pensions to 62 lakh residents, each receiving Rs 1,600. Despite financial challenges, the Kerala government ensures timely pension distribution, with the state funding 98% of the scheme. Central government contributions are delayed.

The LDF government in Kerala announced its commitment to social welfare by allocating funds for one month's social security pensions to 62 lakh residents. Each beneficiary will receive Rs 1,600 within the week, with funds transferred directly to 26.62 lakh people's bank accounts, while others will receive the money via cooperative banks.

Finance Minister K N Balagopal highlighted the government's dedication to ensuring timely pension distribution despite ongoing financial hurdles. He noted that three installments were previously disbursed during Onam festivities. Since March, the distribution of monthly pensions has been a priority, with Rs 32,100 crore allocated since this administration's tenure began.

Kerala's social security pension scheme is noted as the most comprehensive in India, with 98% of funding sourced from the state. The central government's contribution is minimal and delayed, causing financial strain. Only 5.88 lakh beneficiaries receive Rs 300 assistance from the central government, while the state covers the rest of the Rs 1,600 pension.

(With inputs from agencies.)