Your full guide to Pravasi Pension Scheme for NRKs

📝 Table of contents
What is it? Eligibility Benefits Pension amount Register online

What is the Pravasi pension scheme?

The Pravasi pension scheme is a retirement program set up by the Kerala government to help Keralites that have gone outside the state for employment. It is the first of its kind in India and the scheme is specifically designed for Non-Resident Keralites who intend to settle back in Kerala in retirement.

The scheme was created with a focus on middle to low-income returning Keralites and to ensure they have stability and security in retirement. Similar to other pension programs, the approved member contributes to the general pension account while working, and then gets a pension upon retiring.

Once you have joined as a member of the Pravasi pension scheme, you are expected to make a monthly contribution. The amount you are to contribute will depend on the type of NRK, or Non-Resident Keralite, category you fall into but more on that later. The pension then pays out a minimum of ₹2,000 a month in retirement.

Keep in mind that you must continuously contribute to the pension every month while you are working. If you fail to make a contribution for more than 12 months, your account will be cancelled. This can be renewed if you repay the missed payments.¹

Let’s now take a look at who is eligible and how to qualify as an NRK.

Who is eligible for Pravasi pension?

To qualify for the Pravasi pension, you must first be between the ages of 18-60 years old. Additionally, you must qualify as one of the following:

• Non-Resident Keralite working outside of India
• Keralite who recently returned to Kerala permanently after being employed abroad for at least 2 years
• Non-Resident Keralite who is working for at least 6 months in another state in India, and not in Kerala

You will also be required to pay a registration fee of ₹200 when submitting an application for the Pravasi pension to qualify. Without the registration fee, your application can not be processed.

If you are between 55-60 years old, you can start a Pravasi Pension but you will have to contribute to it for a minimum of 5 years before receiving the pension.²

What are the benefits of the Pravasi Welfare Fund?

The major benefit of the Pravasi welfare fund is the minimum of ₹2,000 a month in retirement for those that have successfully held the fund. It is a consistent, safe, and steady stream of income to accompany you as you age.

And if you hold the account for more than 5 years and have contributed continuously, your pension amount will increase by 3%.

There are additional schemes and benefits available for educational grants, maternity, assistance for weddings, and in the case of inability to work further under the Pravasi Pension scheme. ³

How much is Pravasi pension in Kerala?

There are 2 main payments. First, there is a ₹200 registration fee, and then there are the monthly amounts to pay into the pension.

Here are the monthly contributions required to fund a Pravasi pension:⁴

Type of Non-Resident Keralite	Required minimum monthly contribution
NRK - Outside of India	₹300
NRK - Returned from abroad	₹100
NRK - Outside of Kerala but in India	₹100

You will need to contribute to the pension for at least 5 years before you are able to avail the pension income.

Pravasi pension scheme registration online

You can apply for the pension scheme online or with documents to a local bank.

Here are the steps for applying online:

1. Head to the Pravasi Kerala Website
2. Click on Services on the left side menu
3. Scroll down to Online Apply, this will open a new window
4. Click on New Registration
5. Accept and submit the NRK agreement
6. Follow the prompts for submitting an application online

Make sure in your application that you check the correct box for which category of NRK you are applying as:

Type of Non-Resident Keralite	Category
NRK - Outside of India	1A
NRK - Returned from abroad	1B
NRK - Outside of Kerala but in India	2A

You can also download and the forms and submit them to a participating bank branch:

Type of Non-Resident Keralite
NRK - Outside of India 1A
NRK - Returned from abroad 1B
NRK - Outside of Kerala but in India 2A

The Pravasi Kerala webpage for forms has additional benefit forms or services for the pension.⁵

How do I pay my Pravasi Welfare Fund?

There are 2 main ways to pay for the Pravasi Welfare fund:

• Online
• At a local participating bank

Online payments can be done through the Pravasi Kerala portal. On the log-in screen, there is a Quick Payment button to make payments. Be sure to have your membership number handy.

All payments will go to the Kerala Non-Resident/Keralites Welfare Board account.
If you’d rather do your registration and make payments in person, here are the participating banks you can go to:

• South Indian Bank
• Canara Bank
• Indian Bank
• Syndicate Bank
• Catholic Syrian Bank
• State Bank of India
• Bank of Baroda
• Indian Overseas Bank

Before you head to any of the banks listed above, you can download the registration and contribution forms on the Pravasi Kerala website. Each will need to be completed by you and at the bank.⁶

Need to send money to India? Wise Web/Android/ iOS app is the fast, online, and low-cost way to send money directly to a local Indian bank account.

Sign up for free and start sending money at the real exchange rate and just one low transfer fee. And on popular routes, the money can be in the Indian bank account in seconds.

How can I check my Pravasi pension status?

You can check the status of your application on the Pravasi Kerala website portal. Make sure you have your application or passport number in order to pull up your account.

---

Sources used for this article:

1. Pravasi Pension
2. Eligibility
3. Benefits
4. Cost
5. Application
6. Payment

All sources checked as of 16 February, 2022