One more installment of welfare pension of Rs 1600 granted, to be disbursed from Wednesday

THIRUVANANTHAPURAM: One more installment has been sanctioned to the beneficiaries of social security and welfare pensions. Finance Minister K N Balagopal informed that the pensioners will start getting the amount from Wednesday onwards. The amount will reach the bank accounts of 26.62 lakh people. The others will get the pension amount at home via cooperative banks. Around 62 lakh people will get an amount of Rs 1600 each. Earlier, three installments of pension were distributed as part of Onam. The minister also informed that monthly pension distribution has been ensured since last March.

Around Rs 33,000 crore was sanctioned for distribution of welfare pension after the second Pinarayi Government assumed power. 98% of the money required for the social security pension scheme is borne by the state. Only 2% is Centre’s share. Out of the 62 lakh welfare pension beneficiaries, 5.88 lakh people are receiving an average of Rs 300 from the central government. The finance minister also informed that about 400 crores of central government allocation is pending from July 2023 till October.

Chief Minister Pinarayi Vijayan had informed the assembly that the welfare pensions will be distributed on time. The chief minister also said the government will be with the weak section even in the midst of severe economic crisis.