In 1998, the members of Karnataka State Pharmacy Council have constituted Karnataka Registered Pharmacist Welfare Trust (KRKPWT) to provide financial security to the survivors of the Registered Pharmacist in the State of Karnataka. This is the first scheme of its kind in this country designed for the pharmacists by the pharmacist themselves. The scheme is extended to the ailing pharmacists suffering from diseases such as Cancer, Kidney Failure, Bypass Surgery, etc., and other ailments of serious nature (in case the scheme is well responded by the members) as decided by the trust. Since 1998, 81 families of deceased pharmacists and 39 pharmacists for hospitalization have benefited under this scheme.

Total Registered Pharmacists Welfare Trust as of 24th August 2010 is 19998.