7th Pay Commission: Big News for 65 Lakh Central Government Pensioners! Personnel Ministry issues these Guidelines to Banks

Finance GOVT.NEWS

In a bid to provide relief to around 65 lakh central government pensioners, the Personnel Ministry on Friday issued fresh guidelines to the banks for disbursing pension. The Personnel Ministry said that banks are adopting different procedures while releasing pension or seeking certificates from pensioners at different periodicity. The ministry has issued consolidated guidelines to chairman and managing directors (CMDs) of pension disbursing banks to create awareness among Central Pension Processing Center (CPPC)/ bank branches on updated rules and instructions in this regard.

The move comes after an analysis of the grievances received by the Department of Pension and Pensioners’ Welfare under the Personnel Ministry. “It has been observed that updated and consolidated instructions will help improve the processing of pensioner’s requests by banks and others,” the department said in an order issued on Friday.

Impact of new guidelines to banks

In the wake of new guidelines to the banks, pension distributions banks will receive Aadhaar-based digital ‘life certificate’ from the pensioners. Apart from this, those pensioners who are 80 or above years of age, can submit their life certificate in the month of October. As per the 7th pay commission rules, a pensioner needs to submit one’s life certificate in the month of November every year.

Tagged

Leave a Reply

Your email address will not be published. Required fields are marked *