Pension Processing and Disbursement
Pensioners are our valuable customers. The Bank is committed to provide best of the customer service to all customers. Senior Citizens have valuable contribution in society. With aim to provide better and hassle- free service to all its pensioners, Bank has a centralised system of payment of pension across all pension paying branches
Pension is credited to individual customer accounts online directly subject to completion of all compliances and receipt of Life Certificate. All changes in pension payment parameters including arrears of DA etc. are also done centrally and arrears are calculated by CPPC.
The prime objective of centralizing the entire activity of pension payments is to pay pension more accurately and efficiently within the stipulated time period to each individual pensioner. Further, any type of modifications, changes, implementation of new pension components issued by the Pension Sanctioning Authorities from time to time can also be done as per guidelines without any delay/ error.
As pension process is computerized, pensioner gets accurate and timely pension within the time framework specified by Govt. Besides, delay in receipt of instructions from Pension Paying Authority on DA revision, payment and / or restoration of commutation etc. and in calculation thereof is eliminated/minimized.
Categories of Pensioners Catered by Us
• Central Civil
• Defence
• Railway
• Postal
• Telecom
• State Government
• Freedom Fighters
• Other Corporate Employees/ Universities/ State Boards/
• Autonomous Bodies like IGNOU etc.
Advantage To Pensioners
As pension process is computerized, pensioner gets accurate and timely pension within the time framework specified by Govt. Besides, delay in receipt of instructions from Pension Paying Authority on DA revision, payment and / or restoration of commutation etc. and in calculation thereof is eliminated/minimized.