Dubai: Kerala’s Finance Minister Thomas Isaac announced a new pension scheme to support expat Keralites in Dubai on Thursday.
The new feature from the KSFE (Kerala State Financial Enterprise) Pravasi Chitty, a Government of Kerala initiative to support non-resident Keralites, will ensure expatriates secure a monthly pension when they return to Kerala. KSFE will remit the monthly premium towards the pension scheme offered by the Pravasi Welfare Board for the Pravasi Chitty subscribers who opt for the pension scheme.
KSFE will pay the monthly premium for the entire mandatory duration of five years of the scheme, provided the person remains a customer of Pravasi Chitty for the period. Isaac will also attend a meeting with the Foreign Exchange and Remittance Group (FERG) and KFSE members at the Steigenberger Hotel in Business Bay from 9.30am on Sunday.