No one loves to leave their home but still many do. People migrate to new places in search of jobs and make money. People spend their life working hard for their better twilight years. But many times things don’t go well and plans change. This affects the savings and gives a hard time to the people and their retirement years. To give a helping hand Kerala Government launched a savings scheme for all the Keralites who are non-residents. The name of the scheme is Pravasi Chitty Scheme which is a kind of savings insurance scheme.
This savings scheme provides stable income to the subscriber in the form of pension when he/she returns back to Kerala. The scheme is monitored by Kerala State Financial Enterprises (KSFE). KSFE is a miscellaneous non-banking financial company and completely owned by the Kerala Government. So the possibility of a company being a scam is completely out of consideration.
In its initial phase, the scheme will be implemented in United Arab Emirates (UAE). After careful observation and looking at future opportunities the scheme will expand to other Gulf Co-operation Council (GCC) countries. Regarding the same, the Chief Minister of Kerala Mr. Pinarayi Vijayan and Finance Minister Dr. Thomas Issac will be visiting UAE later this month to spread the awareness about the scheme and ask as many people as possible to enroll for the scheme.
Highlights of the Pravasi Chitty Scheme:
1. After the subscriber turns 60 he/she can avail the benefits of the scheme in terms of pension after returning back to India
2. The scheme operates with the partnership of Life Insurance Corporation (LIC) which covers the repatriation of the dead body and a relative. After the death of the subscriber, the LIC completes the payment and hand over it to the nominee
3. Kerala Government made sure that nothing goes waste. The money which KSFE gathers from the scheme goes to the Kerala Infrastructure Fund Board (KIIFB), which mobilizes funds for infrastructure development
How to apply for the Pravasi Chitty Scheme?
The person can enroll for the scheme either by visiting the branch or through the agents of KSFE. Visit the link below and find out your nearest branch.
Nearest Branch Locator: http://ksfe.com/2017/10/27/branch-list/
The person who is already a subscriber of the KSFE just needs to upload the copy of a passport and a visa.
Documents Required for the Pravasi Chitty Scheme:
1. Identity Proof
2. Valid Travel Documents
3. Address Proof (home country residence)
4. Valid Employment Documents
5. Copy of Visa
Contact Details: In case if there are any doubts or need assistant please go through these links once.
Official Website: http://ksfe.com/
Branch wise Contacts: http://ksfe.com/2017/10/25/contact-us/