Govt to increase monthly pension for seafarers to Rs 500 soon

Union Shipping Minister G K Vasan today said the government has decided to increase the monthly pension for seafarers to Rs 500.

Under the revised scheme, seafarers will earn Rs 500 per month as against Rs 200 now, Vasan told reporters on the sidelines of the 50th National Maritime Day celebrations here.

The ministry will source the additional funds by charging foreign shipping lines and registration agencies, the minister added.

"The funds of Seafarers Welfare Society need to be augmented. We are exploring various measures in this regard like securing contribution from foreign shipping lines and registration agencies," he said.