Kerala govt to disburse two instalments of social security, welfare fund board pensions from Jan 24

Kerala Finance department authorizes release of social security pensions, with ₹1,604 crore sanctioned for 62 lakh beneficiaries.

The Kerala Finance department has authorised the release of two instalments of social security and welfare fund board pensions. Around 62 lakh beneficiaries will be paid ₹3,200 under the two instalments, Finance Minister K.N. Balagopal said on Monday (January 20, 2025).

The State government has sanctioned ₹1,604 crore towards this expenditure and disbursement will begin on Friday (January 24, 2025). The instalments include the monthly pension amount for January this year plus one pending payment, Mr. Balagopal said.

Under the social security pension scheme in Kerala, a beneficiary is eligible for ₹1,600 per month. In the case of 26.62 lakh beneficiaries, the pension amount will be remitted in their bank accounts. Cooperatives will distribute the pensions to the others who have opted for direct-to-home distribution.

In July 2024, Chief Minister Pinarayi Vijayan had informed the Legislative Assembly that five pending monthly payments of social security and welfare pensions, totalling ₹4,250 crore, would be disbursed in 2024-25 and 2025-26 fiscals. Mr. Vijayan had added that two pending instalments would be distributed in the current fiscal and the remaining three, in 2025-26.

The first of the two pending instalments meant for distribution in 2024-25 was paid ahead of Onam.

Mr. Balagopal said the present LDF government has so far spent close to ₹35,400 crore on social security pensions. Among these pensioners, a small section (beneficiaries of old age, disability and widow pensions) is eligible for Central government assistance of ₹300 each. While this expenditure has been met by the State in advance, the Centre is yet to reimburse the State and the arrears since November 2023 has piled up to ₹419 crore, according to the Finance department.