The Kerala State Government has introduced the PPS, Pravasi Pension Scheme in April 2018 to help middle and lower-income groups of Keralites who are residing outside the country. The Pravasi welfare fund was created by the Kerala State Government to provide PPS to NRKs (Non-Resident Keralites) in India and NRKs abroad.Read more
Get Tax Free Pension For Life
Flexibility to withdraw fund value any time
Guaranteed Tax SavingsUnder Sec 80 C & 10(10D)
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Invest ₹6,000/month & Get Tax Free Monthly Pension of ₹60,000
Get the best returns & make the most of your Golden years
Read on to know more about the different aspects of the Pravasi Pension Scheme:
The government of Kerala had presented a bill to pass the Kerala Non-Resident Keralites Welfare Act, 2008. Board of Kerala Welfare was established by the Government of Kerala to form a Pravasi Welfare Fund that will offer welfare plans to NRKs (Non-Resident Keralites). More than four lacs NRKs have been registered as participants of the Pravasi welfare fund. NRKs abroad who have now returned to India for permanent settlement after at least 2 years of foreign service, can also avail of membership in this Pravasi welfare fund. Various schemes are there in the Pravasi welfare act like pension plans, pension plans for invalids, medical aid, family pension plans, financial assistance to dependents of a departed participant, etc.
The PPS was launched by Kerala’s CM, Pinarayi Vijayan on 2018, 21st April.
The scheme is specifically designed for the individuals of Kerala who are living outside India.
The Pravasi Pension Scheme is operative under the management of the Pravasi Welfare Board of Kerala.
Individuals enrolled in the Kerala Pravasi Welfare Board will be entitled to receive the scheme benefits
NRKs who have resumed to India for settling permanently can also get membership in this Pravasi welfare plan after at least 2 years of service.
People above 60 years of age are eligible to receive the Pravasi welfare scheme benefits.
NRKs who have paid contributions to the Pravasi welfare pension fund constantly up to 60 years of age are entitled to a minimum pension on a monthly basis of 2000 Rupees.
Every NRKs abroad member is required to pay 300 Rupees for each month in a form of a contribution.
Every NRKs in India have to pay a 100 Rupees contribution each month
The period of contribution is 5 years
PPS is not offered for central and state government employees.
Same as NRKs Abroad (Application 1A), Kerala people who have come back from abroad/overseas (Application -1B) for getting settled permanently can pay to the Pravasi welfare fund constantly up to 60 years to receive the Kerala Pravasi pension scheme benefits and profits. They are also considered eligible for a pension on a monthly basis of 2000 Rupees.
Every NRK having age between 19 to 60 years is entitled to enroll as a Welfare fund member. The Pravasi scheme membership is mainly categorized into 3 categories as mentioned below:
NRKs who are employed abroad – Form 1A
NRKs who came back to India permanently after at least two years of employment in abroad – Form 1B
NRKs employed in India outside Kerala- Form 2A
Following is a step-to-step guide you are required to follow for registering Pravasi Pension Scheme online:
Step 1: Visit the Pravasi Welfare Board of Kerala’s official website
Step 2: Click on a ‘Service’ option
Step 3: Then, click on ‘Online Apply’ tab by visiting the online registration menu
Step 4: After this, you will be forwarded to the PPS Online Application Form Page
Step 5: Choose the type of registration according to your group i.e., 2A, 1A, and 1B
Step 6: Enter the important information requested on the page, such as the nominee’s details
Step 7: Submit the self-attested documents like a photo with a signature
Step 8: Click on ‘Submit’.
The PPS registration payment is Rs, 200 for all groups. One can pay the enrolment fees via online or submit them at any nearest prescribed bank branch or Pravasi Co-operative Societies money exchange for abroad and more.
The contribution on a monthly basis for each group is as follows:
|Category||Contribution of Rs. per month|
|NRKs who came back from abroad – Form B||100|
|NRKs Abroad – Form A1||300|
|NRKs India – Form 2A||100|
If an enrolled member who is eligible to receive the pension passes away in an unfortunate event, his/her family, including wife, children less than 21 years, dependent parents, unmarried daughter, etc., shall be entitled to receive a family pension of a sum equal to 50 percent of the entitled pension intended for the dead member.
In case a member of the Pravasi Welfare fund (overseas form 1A) dies because of an accident or illness, in such cases, one of the member’s dependents i.e., minor children, spouse, widowed/unmarried daughter, dependent sisters, brother or parents, or further legal recipients, shall also be entitled to avail maximum monetary support of Rs. 50000.
In case a member of NRK – 1B passes away, his/her family members who are dependent shall be reimbursed with the maximum monetary support of Rs. 30000.
In case any Non-Resident Keralite member is suffering from a critical ailment, then he/she can claim financial support up to 50000 Rupees during the complete time of membership. Though, if a person receives any financial support for the same from the state or central administration or any other organizations such as the Local self-department, Norka Roots, he/she cannot claim the monetary support from the welfare fund of Kerala under the PPS.
Those NRKs members who have constantly contributed to the welfare fund at least for a period of 3 years shall be eligible to receive financial support of 10,000 Rupees for marriage expenditures of his/her 2 daughters subjected to the following conditions:
The financial assistance shall be paid to the NRKs member a maximum of 2 times
Only 1 NRK member of the family is entitled to financial support if others are also members of the welfare fund.
Under the pension scheme, the Non-Resident Keralite (Abroad Form 1A):
Those who remit contributions towards the Kerala Pravasi Welfare scheme up till the age of 60 are eligible to receive a monthly pension of Rs. 2,000/- after the age of retirement. Abroad form 1A needs to be filed to benefit from the scheme under this category.
Under the pension scheme, the residents repatriated from abroad and settled in Kerala (Form 1B):
Those who remit continuous contribution towards the Kerala Pravasi Welfare scheme up till the age of 60 are eligible to receive a monthly pension of Rs. 2,000/- after the age of retirement. Form 1B needs to be filed to benefit from the scheme under this category.
Under the pension scheme, Non-Resident Keralites in India but outside Kerala (Form 2A):
Those who remit continuous contribution towards the Kerala Pravasi Welfare scheme up till the age of 60 are eligible to receive a monthly pension of Rs. 2,000/- after the age of retirement. Form 2A needs to be filed to benefit from the scheme under this category.
Under the pension scheme, members who contribute for more than 5 years continuously:
Receive additional pension equivalent to 3% of minimum pension prescribed, that is, Rs. 2,000 per month, every year after the completion of 5 years. It is important to know that the receivable amount shall not exceed twice the minimum pension amount.
If the deceased member of the Kerala Pravasi Welfare scheme is eligible for superannuation pension, any eligible family member shall be qualified to receive 50% of the equivalent amount of the pension receivable by the deceased member. Eligible family members can be:
Wife of the deceased
Children below 21 years of age
An insane child of the deceased
Unmarried daughter above the age of 18 years
Under the pension scheme for invalids, any member of the Kerala Pravasi Welfare scheme, who made their contribution for a continuous period of 3 years but are unable to continue due to incapability or physical deformity, are eligible for the Invalid Pension amount.
For the Invalid pension eligibility, the Kerala Pravasi Welfare scheme member has to have:
Valid doctor’s certificate who treated to member
Valid incapability condition under which any laborious activity cannot be performed
In case the deceased member of the Kerala Pravasi Welfare scheme falls under the above mentioned category of Abroad Form 1A:
A maximum amount of Rs. 50,000/- is offered to the family member (falling under the family member eligibility mentioned above) as financial assistance.
In case the deceased member of the Kerala Pravasi Welfare scheme falls under the above mentioned category of Form 1B:
A maximum amount of Rs. 30,000/- is offered to the family member (falling under the family member eligibility mentioned above) as financial assistance.
If any member of the Kerala Pravasi Welfare scheme gets afflicted with any critical illness during the active membership of the scheme, then they are eligible for a maximum of Rs. 50,000/- as financial assistance. It is important to note that if the member of the Kerala Pravasi Welfare scheme has already received any kind of financial assistance from the Central Government or the State government or any other Government body, then they will not be eligible to receive any remunerations from the Welfare Fund scheme.
Any female member of the Kerala Pravasi Welfare scheme, remitting a continuous contribution towards the scheme for a minimum of 2 years, is eligible for:
Rs. 3,000/- as financial assistance to meet the maternity needs and expenses.
Rs. 2,000/- as financial assistance in case of abortion.
Non-Resident Keralites who are members of the Kerala Pravasi Welfare scheme and have made continuous contributions for a minimum of 2 years can opt for an educational grant for their children’s higher education under the educational grant scheme. Generally, post graduate professional courses, ITC/ITI degrees are eligible under the welfare scheme.
After prior sanction from the Government body and association with any one of the Nationalized Insurance Company, the Kerala Pravasi Welfare scheme provides financial assistance to their members in case of any accidental death or medical related issues of the member of the welfare scheme.
As per the Kerala Pravasi Welfare Scheme Relief Fund, any member who has continuously contributed towards the scheme for a minimum period of 5 years, only after the approval of the Kerala Pravasi Welfare Board, is eligible for a housing loan. The housing loan may be for:
Construction of house
Land purchase for the construction of a house
Land purchase with the building
Reconstruction of the existing building, etc.
To get financial assistance towards marriage expenses for daughters, the member of the Kerala Pravasi Welfare scheme needs to make a continuous contribution for at least 3 years under the welfare scheme. Following conditions need to be fulfilled to attain benefits under the marriage scheme:
Financial assistance can be claimed twice by the member throughout the tenure.
Only 1 member is eligible for the marriage scheme under the welfare fund (even if there are more members under the Kerala Pravasi Welfare scheme in a family).
A maximum of Rs. 10,000/- can be claimed under this scheme.
NRKs (Non-Resident Keralites) who due to age restriction cannot be members of Kerala Pravasi Welfare scheme (55 years as approved by the Government) are offered certain other schemes by the Government, which are:
For common diseases, medical financial assistance of up to Rs. 10,000/- is sanctioned.
For critical illness, medical financial assistance of up to Rs. 25,000/- is sanctioned.
Financial assistance for old age is provided in a lump sum or the form of pension as approved by the Kerala Pravasi Welfare Board.
In case the NRK passes away before the age of 60 and is also not a member of the Kerala Pravasi Welfare scheme, dependents are provided Rs. 10,000 as financial assistance.
28 Jun 2022दोस्तों जैसा की आप सभी...
23 Jun 2022दोस्तों जैसा की हम जानते...
21 Jun 2022पेंशन प्लान्स को...
21 Jun 2022हर व्यक्ति रिटायरमेंट...
17 Jun 2022अटल पेंशन योजना भारत...