Kerala to form a special company for monthly pension disbursal

THIRUVANANTHAPURAM: Kerala Government has decided to form a special company under the Finance Department for the speedy disbursal of social security pension schemes in the state.

"The decision was in the wake of inordinate delay in pension distribution by various welfare boards.The Government would provide sufficient funds to the company for the disbursal of pension," an official release said here.

With the formation of the new company, the government intend to distribute the pension every month, against the practice of distributing pension during festival season or once in every three months, it added.

A large number of age-old and handicapped people are depending on pension for their livelihood.

The State government will hold the entire share of the newly formed company with Finance Minister and Finance Secretary as its Chairman and Managing director respectively.