Kerala To Launch ‘Pravasi Dividend Pension Scheme’

The Kerala government has floated a ‘Pravasi Dividend Pension Scheme’ to provide regular pension to Non-Resident Keralites on a one-time payment of Rs 5 lakh. Governor P. Sathasivam announced the scheme during his address to the state Assembly.

There are 2.1 million migrants from Kerala across the world. A non-resident Keralite can invest an amount ranging from Rs 5 lakh to Rs 50 lakh, as a whole or as 6 installments paid within 3 years. Each beneficiary will be entitled to receive pensions ranging from Rs 5,000-50,000 every month, 3 years after the total amount is deposited, at a dividend rate of 12%.

Source: The Financial Express

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