The Finance Department has approved a total of ₹1,068.79 crore for the two pension categories, allocating ₹957.93 crore to social security pensions and ₹110.86 crore to welfare fund board pensions.
For the social security pensions, ₹531.62 crore will be transferred directly into beneficiaries’ bank accounts.
An additional ₹426.30 crore will be paid out to households through primary cooperative credit societies, as stipulated in the finance department’s order.
The department has set a deadline of October 5 for the complete distribution of the pension funds.