Are you willing to know the detailed information about the Payment of Pension to Government Pensioners? Here is the article which provides you the clean and clear information about the Payment of Pension to Government Pensioners. All the scheme for the payment of pension to all the government Pensioners is authorized by the banks. These Pension Schemes and rules are formulated by the respective Government Ministries and their Departments. The Reserve Bank of India organizes the Disbursement of Pension by its agency banks in respect for all the Government Departments.
In these Process, it may receive queries from the pensioners in regarding the fixation, calculation, and payment of pension which includes revision of pension relief, transfer of pension account from one bank branch to another, and many more. Later the Reserve Bank of India has to analyze all the queries and put them in the form of answers frequently asked questions here. It is hoped that these will cover most of the queries in the mind of the pensioners. For every Government Employer should have a joint account or a separate account to receive family pension.
Have you known that the banks ask to record the Pension Payment order number on the bank account passbook and then you can ask them for the issue of pension slips? This is because to ensure that the Senior Citizen Pensioners of the government do not have to run from the pillar of the post to get any pension-related issues, so the RBI has issued various Directives to the pension disbursing banks via a master circular, it was released in 02-Jul-2018.
These are the 5 issues that are commonly faced by Pensioners:-
- The credit of Pension in a joint account.
- Recording PPO in the Banks passbook.
- Updation of PPO and issue of pension slips.
- Nomination to receive pension Liabillities.
- Reduces the Delayed to pay higher dearness relief.
The credit of Pension in a joint account:-
All the Government Employees who have retired already (or) who are going to be retired can have their pension that to be credited in your Joint account. However, this joint account will be accessed by your partner with authorization for a family pension which exists in the PPO.
Recording PPO in the Banks passbook:-
This recording of PPO in the bank's passbooks has been issued by the RBI because it helps the Pensioners to avoid problems, which are generally faced in case of loss of the original PPO.
For all the Pensioner PPO is the important document because of the Government Pensioners, including the Family Pensioners, who are required to mention this number while submitting a life certificate for all the pension paying branches which can result in your pension being not to be stopped.
Updation of PPO and Issue of Pension Slips:-
The Pensioners have to update their PPO regarding the change in the quantum of pension and the Central government includes the defense and railways and the State Government have to decide to issue Pension slips in this regard. The Pensioners can request these slips from the Pension Paying branches.
These pension slips can help you in a track record of the pension received by you, as well as it helps you when you have received the benefit of higher pension (or) due to hike in the Dearness allowances (or) age benefit after the age of 80 years.
Nomination to receive pension Liabilities:-
Government Pensioners are required to nominate their Beneficiary, who will receive their liabilities of pension from the government because in case of any death of yours.
So the RBI has also advised the pension paying banks to nominate their beneficiaries which were made by their and also regard must also be printed on the front page of the passbook of your own bank account.
Reduces the Delayed to pay higher dearness relief:-
To Provide a better benefit dearness allowance to all the pensioners is one of the earliest, RBI is one of the master circulars which has given instructions to all the banks to reduce the non-respond (or) delaying of the issue of order and the payment on it.
