Kerala Pravasi Pension Scheme

Overview of the Kerala Pravasi Pension Scheme

The Kerala Pravasi Pension Scheme is the pension provision of the Pravasi Welfare Fund, also known as the Pravasi Kshemanidhi. The Government of Kerala introduced the Non Resident Keralites' Welfare Scheme, 2009, under the 2008 Act to provide benefits through the fund. The fund is built from the monthly contributions of registered members.

The Board aims to provide eligible NRKs with the fund's benefits. It administers the welfare programmes under the Act such as the monthly pensions, family pensions, invalid pensions and treatment assistance, which may help in long-term retirement planning.

Kerala Pravasi Pension Scheme Highlights

The following are the important facts of the Kerala Pravasi Pension Scheme:

Key Benefits of Kerala Pravasi Pension Scheme

In addition to offering a pension plan to secure retirement, the scheme also offer several welfare benefits. The key benefits and qualifications are:

• Family support: An eligible family member can receive 50% of the pension that would have been paid to the deceased member under Kerala Pravasi Family Pension Scheme.
• Support for disability: Pravasi Kshemanidhi gives financial assistance to members who have made regular contributions to the scheme over a period of 3 years and have suffered a permanent physical disability, as long as the member has a valid medical certificate.
• Medical expenses: The Pravasi Kshemanidhi Scheme pays up to ₹50,000 of the cost of any eligible treatment during the tenure of membership up to the retirement date as per the conditions of the Board.
• Marriage expenses: A daughter can avail a ₹10,000 benefit under the scheme Pravasi Kshemanidhi, for marriage after 3 years of continuous contributions. It may be claimed twice, and the eligible number of NRKs in a family is limited to one.
• Children's education: Members may also seek help through the Payment of Educational Grant Scheme for the courses that their children may need, but they must have successfully completed at least two years of consecutive contributions before admission.
• Maternity support: Female members who have made two years of uninterrupted payments can get ₹3000 under the Payment of Financial Assistance for Maternity Scheme and ₹2000 in case of abortion. It only allows two claims to be made within membership.
• Support after a member's death: The Pravasi Welfare Fund gives financial assistance to dependents of the deceased member. The scheme provides up to ₹50,000 to one of the dependents of a Category 1A member, ₹30,000 to a Category 1B member and ₹25,000 to a Category 2A member.
• Housing finance: Borrowers who acquire eligible housing loans are entitled to a 5% government subsidy on loans up to ₹20 lakh, with the banks or financial intermediaries, under the Housing Loan Payment Scheme, under the conditions of the Board.

Pension Amount and How It's Calculated

A member who makes contributions continuously up to the age of 60 receives a minimum monthly pension of ₹3,500 (category 1A) or ₹3,000 (categories 1B and 2A). A member who has contributed for more than five years receives an additional pension equal to 3% of the minimum for every completed year beyond five. The total pension cannot exceed twice the minimum.

For category 1A, each additional year adds ₹105, and the ceiling is ₹7,000. For categories 1B and 2A, each additional year adds ₹90, and the ceiling is ₹6,000. The maximum pension is reached after 39 completed years of contribution.

The table below shows the contributions and pension amounts for a member who contributes every month from the age of joining until 60. The figures exclude the ₹200 registration fee.

How to Register for Kerala Pravasi Pension Scheme

In order to register using the online portal of the Board, follow these steps:

• Open the Portal: Visit the Kerala Pravasi Welfare Board's official website.

• Open Services: Select the Services option.

• Choose Online Registration: Select Online Registration and then Online Apply.

• Select Your Category: Select the right registration form between 1A, 1B or 2A.

• Enter Personal Details: Enter your name, gender, age, address and other details which are needed.

• Upload Documents: Upload the necessary self-attested documents, photograph and digital signature. Submit authentic visa and passport photocopies as needed.

• Pay the Fee: Pay the ₹200 registration fee using the online payment system or a specified bank branch.

• Pay the Contribution: Pay the monthly contribution according to the online payment system of the Board.

• Submit and Track: Submit the application and record the application number and monitor the application status using the portal. Get the identity card and contribution card after it is issued.

Who Can Join: Membership Categories and Eligibility

Every NRK aged 18 to 60 years is eligible to register. The Board classifies members into three categories, and the category decides both the contribution and the minimum pension.

Age at joining decides when the pension starts. A member who joins at age 18 to 55 becomes eligible on completing 60 years, if contributions are paid without interruption. A member who joins after 55 but before 60 must contribute for five years to become eligible.

Documents Required for Pension Application

Applications are received online from 1 August 2022. As per the Board's pension application requirements, the member must submit the required documents along with the pension application.

Note: Pensioners must submit a life certificate attested by a gazetted officer every March, before 31 March. Failure to submit it can result in the pension being withheld from April.

Official Channels and Additional Retirement Options

The Kerala Pravasi Welfare Board recommends that members should not use agents or intermediaries because it does not assign any person to attend to membership, benefits or payments. Members should use the Board's official system and contact the toll-free number 1800 890 8281 or WhatsApp at 7736850515 for queries. Other long-term retirement savings options are also available to the members as an addition to the Pravasi pension, including the National Pension Scheme or an annuity plan.

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