The state ministry has decided to form a special company under the Finance department for the easy disbursal of pensions. Monthly pensions for livelihood can be disbursed without any lag to the needy through this company. The Government will give the funds required for pensions and 100% share will be held by the government. Finance Minister will be the chairman of the Director Board and the Managing Director post will be handled by Finance Secretary.
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Currently, various welfare pensions are distributed by different welfare fund boards which have created uncertainties and loss of time in the disbursal of pensions. The pensions are being provided tri monthly or during festivals now. The Government aims to overcome these difficulties through the formation of a special company solely for disbursal of the welfare pensions.
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