THIRUVANANTHAPURAM: Finance Minister K N Balagopal on Monday said that the ‘Jeevanandam’ insurance scheme for retired government employees will proceed only after a thorough assessment by a professional actuarial team. He strongly rebutted claims suggesting the scheme was devised to alleviate fiscal pressures of the government.
“The primary goal of the scheme is to ensure a stable income for retirees. We have broadened its scope to encompass employees from public sector entities and universities under government auspices. Participation is voluntary, and no employee is obliged to enrol. The scheme will commence following a comprehensive review by our expert advisors,” Balagopal said.
Addressing concerns voiced by legislators from both the UDF and LDF, the minister said, “There’s no need for undue concern at this preliminary stage of planning. Historically, LDF governments have prioritised the welfare of government employees.”