Pension

The funds of the scheme comprised the contribution from Government of Kerala, contribution collected from members of the scheme, interest from Bank deposits etc which is being utilized for payment of various benefits to members of the scheme and administrative expenditure. The corpus fund would be deposited as short term fixed deposit. The fund is mainly utilized for the disbursement of multi faceted benefits to like Retirement Benefit, Maternity Benefit, Marriage Benefit, Medical Assistance, Scholarship to children of the workers, Death benefit etc. to the members.

 

• Old age Pension:- the member who retires from the scheme after completing the age of 60 years is entitled to get monthly pension at the rate fixed by the government from time to time.(Currently Rs. 1600/- per month).
• Family Pension:- In the event of death of a member after completing 10 years service in the scheme , the members family will be entitled to get the family pension
• Disability Pension:- A member having 5 year service in the scheme, and if the permanent disability is above 50%, he is eligible for getting disability pension.