Pravasi Pension Scheme

Pravasi Pension Scheme (PPS) is a social security scheme for Non-Resident Keralites (NRKs) launched by the Kerala State Government in April 2018. The scheme aims to help NRKs who returned to Kerala after working abroad, including their families.

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Disclaimer: ##Rs 60,000 are the monthly pension amounts at the assumed rate of return of 8% p.a. and 4% p.a. for unit linked insurance plans. This is an illustrative example and the returns are not guaranteed & dependent on the policy term and premium term availed along with the other variable factors. The market linked return of 60K per month is for an 18 year old investing 6k per month for 20 years in a whole life policy having policy term 82 years in which Systematic partial withdrawals start at the age of 65 years at 5% rate of withdrawal per year. The investment risk in the policy is borne by the policyholder. All Plans listed here are of insurance companies’ funds. *Tax benefits and savings are subject to changes in tax laws. All Plans listed here are of insurance companies’ funds. Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

Read on to know more about the different aspects of the Pravasi Pension Scheme.

What is Pravasi Pension Scheme?

The Pravasi Pension Scheme (PPS) is an ideal post-retirement pension plan for Non-Resident Keralites (NRKs) who wish to settle in the state after returning from a foreign country. Kerala Pravasi Welfare Board manages this scheme and is funded by the Pravasi Welfare Fund (Pravasi Kshemanidhi).

The NRKs can avail of the monthly pension and other welfare benefits on enrolment with this scheme.

Pravasi Welfare Fund/ Pravasi Kshemanidhi

Pravasi Welfare Fund or Pravasi Kshemanidhi is a social security fund for the welfare of NRKs, envisaged under the Keralites’ Welfare Act, 2008 by the State Government of Kerala. The fund aims to reach out to all eligible members and provide financial relief as well as other benefits.

Some of the major schemes offered under the Pravasi Welfare Fund (Pravasi Kshemanidhi) are as follows:

Kerala Pravasi Pension Scheme
Kerala Pravasi Family Pension Plan
Kerala Pravasi Financial Assistance for Marriage
Kerala Pension Plans for Invalids
Kerala Pravasi Medical Aid Scheme
Financial Assistance to Dependents of a Departed Participant

Features of Pravasi Pension Scheme

Let us learn the key features of the Pravasi Pension Scheme from the table mentioned below:

Features	Details
Launched by	Pinarayi Vijayan, Chief Minister of Kerala
Introduced on	21 April 2018
Scheme u/ Act	Keralites’ Welfare Act, 2008
Managed by	Kerala Pravasi Welfare Board
Funded by	Pravasi Kshemanidhi/ Pravasi Welfare Fund, Kerala
Entry Age	19-60 years of age
Beneficiaries	Non-Resident Keralites (NRKs) and their families
Monthly Contribution by Beneficiaries	Eligible NRKs Working Abroad: Pay Rs. 350 per month for a period of 5 years Eligible NRKs Settled in Kerala: Pay monthly Rs. 200 for 5 years Eligible NRKs Settled Elsewhere in India: Pay monthly Rs. 200 for 5 years
Pension Benefits	Monthly pension (Pravasi Kshemanidhi) of Rs. 2,000 from the age of 60 years onwards
Additional pension benefits for more than 5 years of contributions	Minimum Additional Pension: Minimum 3% of prescribed monthly pension of Rs. 2000 Maximum Additional Pension: Up to twice of prescribed Rs. 2000

Eligibility Criteria for Pravasi Pension Scheme

The terms and conditions to become eligible to get a monthly pension provided by the Pravasi Kshemanidhi are as follows:

S. No.	Eligibility Criteria
1.	Non-Resident Keralites (NRKs) who are working abroad
2.	NRKs who permanently returned to settle in Kerala after working abroad for at least 2 years
3.	NRKs who came back to settle elsewhere in India (outside Kerala) after working for 2 years or more in a foreign country
All the applicants to the Pravasi Pension Scheme must be enrolled with Pravasi Welfare Fund

NRKs Ineligible under Kerala Pravasi Pension Scheme:

Kerala Pravasi Welfare Board does not offer this scheme to NRKs who are employed with Central or State Governments.

Documents Required

The NRKs must submit the following application forms to register with the Pravasi Welfare Fund:

List of Documents	Details
Form 1A: NRKs	Filed by Non-Resident Keralite (NRK) working in a foreign country
Form 1B	Filled by NRKs repatriated from abroad and settled in Kerala
Form 2A	Filled by Non-Resident Keralites settled in India but outside Kerala
ID Proof	Valid Passport Aadhar Card Birth Certificate Voter ID Card
Address Proof	Utility Bills Aadhar Card Passport
Important Documents	Valid Visa Valid Passport
Other Documents	Passport-size Photo Digital copy of the NRK’s signature

How to Register for Pravasi Pension Scheme Online

Following is a step-to-step guide you can follow to register online under Pravasi Pension Scheme:

Step 1: Visit the official website of the Kerala Pravasi Welfare Board

Step 2: Click on a ‘Services’ option

Step 3: Visit the menu of Online Registration and press on the tab ‘Online Apply’ tab

Step 4: This will forward you to the application form page of the Pravasi Pension Scheme

Step 5: Choose the type of registration according to your group i.e., Form 2A, 1A, and 1B

Step 6: Enter your name, gender, age, address, and other basic details

Step 7: Upload the self-attested documents with your photo and a digital signature

Step 8: Submit the digital copies of your valid Visa Passport

Step 9: Pay the applicable monthly fee required to register with Pravasi Kshemanidhi/ Pravasi Welfare Fund

Step 10: Click on ‘Submit’. Note your application number shown on the screen.

Your registration process will get successful after document verification. You will get your Member ID for Pravasi Welfare Fund within 15 working days of registration.

List of Kerala Pravasi Welfare Board Schemes

Let us learn the features of the major schemes provided under Kerala Pravasi Welfare Board Schemes.

Kerala Pravasi Family Pension Scheme

The key features of the Pravasi Family Pension Scheme are as follows:

Features	Details
Beneficiaries	Family of deceased NRK (member of Pravasi Kshemanidhi): Spouse of the NRK Children up to 21 years of age Unmarried daughter above the age of 18 years Dependent parents
Monthly Pension Assured	50% of monthly pension entitled to the NRK
Monetary Support if NRK passes away abroad	Sum of Rs. 50,000 to the dependent family
Monetary Support if NRK settled in Kerala passes away	Sum of Rs. 30,000 to the dependent family

Pravasi Kshemanidhi- Financial Assistance for Medical Treatment Scheme

The important features to note under Financial Assistance Programme for Medical Treatment by the Pravasi Welfare Fund are as follows:

Features	Details
Beneficiaries	NRKs suffering from a critical ailment
Financial Support	Up to Rs. 50,000 per individual during membership in Pravasi Welfare Fund/ Pravasi Kshemanidhi
No Monetary Support, if	If the NRK receives financial assistance from the Central or State Government

Pravasi Kshemanidhi- Financial Assistance for Marriage

Let us learn the key points of the plan to provide financial assistance for marriage.

Features	Details
Beneficiaries	NRKs who are a member of Pravasi Kshemanidhi/ Pravasi Welfare Fund, and Contributing regularly for a period of 3 years Maximum 1 NRK member in a family can claim this financial assistance
Financial Support	Sum of Rs. 10,000 For marriage expenses of up to 2 daughters

Pravasi Kshemanidhi- Financial Assistance to Invalids

The key features of the Pravasi Welfare Fund’s programme to provide financial assistance for Invalids are:

Features	Details
Beneficiaries	NRKs members of Kerala Pravasi Welfare Fund, and Not able to pay due to any incapability or physical deformity Contributing regularly for 3 years to the Pravasi Kshemanidhi
Documents Required	Valid doctor’s certificate who treated the NRK member Should not be able to perform any physical activity

Pravasi Welfare Fund- Scheme for Financial Assistance to Dependents of the Deceased Member

Following are the features to get financial Assistance to the Dependants of the deceased NRK member of the Pravasi Kshemanidhi:

Features	Details
Beneficiary	To the family of the deceased NRK who falls under Form 1A of the Pravasi Pension Scheme To the family of the deceased NRK u/Form 1B of the Pravasi Pension Scheme
Financial Assistance	NRK u/Form 1A: Up to Rs. 50,000 NRK u/From 1B: Up to Rs. 30,000

Payment of Financial Assistance for Maternity Scheme

The major features of the Pravasi Welfare Fund’s plan to provide financial assistance for maternity benefits are as follows:

Features	Details
Beneficiary	For female NRK member or female spouse of the NRK member, if Contributing regularly for 2 years to the Pravasi Kshemanidhi Fund
Financial Assistance	For maternity expenses: Up to Rs. 3,000 In case of abortion: Up to Rs. 2,000

Payment of Educational Grant Scheme

To get access to grants for higher education under the scheme offered by the Pravasi Welfare Fund, the main features are as follows:

Features	Details
Beneficiary	NRK members of the Pravasi Welfare Board Contributing regularly for 2 years to the Pravasi Kshemanidhi Fund
Financial Assistance Provided for	For Higher Education Expenses of Children Eligible Courses: PG Professional courses/ ITI/ ITC degrees

Housing Loan Payment Scheme

The major criteria to avail house loan facility under the Pravasi Kshemanidhi scheme is as follows:

Title	Details
Beneficiaries	NRK members of the Pravasi Pension Scheme Contributing regularly for 5 years to the Pravasi Kshemanidhi Fund Approval of the Pravasi Welfare Board is required
Loan Facility for House Loan	Credit provided for: Construction of house Land purchase for the construction of a house Land purchase with the building Reconstruction of the existing building

Wrapping It Up

Kerala Pravasi Pension Scheme is widely appreciated in the NRI community. The scheme has helped individuals who have returned to Kerala to live a dignified life. It has become a major success in addressing the issues of financial insecurity and social isolation faced by many returning NRIs.

FAQ's

What is the Kerala Pravasi Pension Scheme?

The Kerala Pravasi Pension Scheme is a welfare program to provide financial assistance of monthly Rs. 2000 to Non-Resident Keralites (NRKs) aged above 60 years. Kerala Pravasi Welfare Fund launched major schemes for NRKs that are managed by Pravasi Welfare Board.
Who can enrol for the Kerala Pravasi Pension Scheme?

Kerala Pension Scheme is provided to the Non-Resident Keralites (NRKs) who age above 60 years and are working in foreign countries. It is important to note that the scheme is also open for the NRKs who returned to settle in Kerala or elsewhere in India after working for at least 2 years.
What are the documents required for the Pravasi pension?
Following is the list of documents required to be submitted by the Non-Resident Keralites (NRKs) to join the Pravasi Pension Scheme:
- Form 1A: For NRKs working abroad
- Form 1B: For NRKs returned to settle in Kerala after working abroad for 2 years or more
- Form 2A: For NRKs returned to settle elsewhere in India after working for 2 years or more abroad
- Valid Visa
- Valid Passport
How can I get a Kerala Pravasi pension?

To join Kerala Pravasi Pension Scheme, you can register online at the official website of Kerala Pravasi Kshemanidhi/ Pravasi Welfare Fund after paying the monthly registration fee along with all the required details and document proofs.
How do I get my Pravasi pension after 60 years?

Pravasi Pension is paid directly to the bank account of the members of the Pravasi Welfare Fund, once they attain the retirement age of 60 years. A monthly pension is provided to the NRK if they continuously contribute for 5 years to the Pravasi Kshemanidhi.
What is the pension amount of Pravasi Kshemanidhi?

The members of Pravasi Kshemanidhi get a monthly pension of Rs. 2,000 from the age of 60 years and above on continuous contribution of required fees for a period of 5 years.

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^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
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¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
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