Kerala government allocates funds for social security pensions amid financial challenges

In a move to uphold its welfare initiatives, the Left Democratic Front (LDF) government of Kerala announced on Monday that it would allocate funds for the disbursement of social security pensions to 62 lakh beneficiaries in the state.

Kerala Finance Minister K.N. Balagopal stated that each pensioner would receive Rs 1,600 within the week. Of the total beneficiaries, 26.62 lakh will receive the amount directly in their bank accounts, while others will have their payments delivered through cooperative banks to their homes.

Despite facing financial constraints, the government remains committed to ensuring the timely distribution of monthly welfare pensions. Balagopal noted that previous installments of the pension had already been disbursed as part of the Onam festivities in August, and monthly distributions have been maintained since March.

Since taking office, the government has disbursed approximately Rs 32,100 crore in welfare pensions. 

Balagopal emphasized that Kerala boasts the most comprehensive social security pension scheme in India, with 98 percent of the funding sourced from the state and only 2 percent from the central government. 

Out of the 62 lakh beneficiaries, only 5.88 lakh individuals receive an average of Rs 300 as assistance from the central government.

Currently, pensioners in Kerala receive Rs 1,600 per month, with the state covering the remaining amount. Balagopal also pointed out that the central government's contribution has faced delays, amounting to Rs 375.57 crore for the period from July 2023 to September.