Kerala's Significant Pension Distribution Under Pinarayi Vijayan Government

Kerala's Finance Minister K N Balagopal announced significant allocations for welfare pensions, marking a major commitment by the second Pinarayi Vijayan government. A total of ₹43,653 crore has been dedicated to this cause.

In the latest announcement, the state plans to begin distributing social security pensions from October 27. For this purpose, ₹812 crore will ensure that 62 lakh recipients receive ₹1600 each. The distribution method varies, with 26.62 lakh beneficiaries getting direct transfers into their bank accounts, while others will receive their pensions at home via cooperative banks.

Furthermore, the state government has proactively allocated ₹24.21 crore as an advance for the central share of the National Pension Scheme, set to benefit 8.46 lakh people across the state. These funds will be managed and transferred using the central government's Public Financial Management System.