THIRUVANANTHAPURAM: The KSFE on Friday announced pension scheme for those joining Pravasi chitty. KSFE will directly deposit the premium of Pravasi Chitty members for the NRK welfare pension scheme. This was disclosed by Finance Minister T.M. Thomas Isaac at a press conference here.
He said the scheme is being implemented by KSFE as part of golden jubilee year. This facility will be available for those joining the chitty for 60 months with a monthly deposit of Rs 10,000. Those joining the chitty from November 1 will be eligible to avail the scheme.
The Pravasi Welfare Pension Scheme is being implemented by the Kerala Expatriates Welfare Board. The existing members and those who intend to become members in future would be given membership number at the time of joining the chitty and they can opt for pension benefits. The KSFE will deposit the monthly premium.
The minimum pension amount is Rs 2,000 per month. For those depositing premium for a period of more than five years will get a three per cent increase in pension amount on every additional year.
Through this the member would be able to avail a maximum of Rs 4,000 pension. Pension will begin on completion of 60 years of age.
In the event of death of a member of pension scheme, the nominee will get Rs 50,000 in case of expatriate. The nominees of the members who have returned home after expatriate life will get Rs 30,000.
The member will also get health care benefits worth Rs 50,000 during the period of membership. Besides, members would get Rs 4000 for the education of two children and up to Rs 10,000 for marriage of two daughters. There is maternity benefit of Rs 3000 for women members. A member will be eligible for pension scheme only in one chitty.
As on October 31, 2019 11551 persons have joined 388 Pravasy chitti. KSFE chairman Peelipose Thomas, MD A Purushottaman and director V K Prasad were also present at the press conference.
