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Pensioner Need a Separate Account?


Pensioner Need a Separate Account?

Is it Necessary for the Pensioner to Open a Separate Pension Account to credit Pension?

CENTRALISED PENSION PROCESSING CENTER

Payment of Pensions to Central Government and State Government Pensioners through Centralized Pension Processing Cell (CPPC)

Frequently Asked Questions and Answers

1. Can any pensioner draw his/her pension from SBI?
Ans: Yes, a pensioner can draw his/her pension from a SBI Branch if he/she is a Central/State Govt. Pensioner or Autonomous Body, which has arrangement for pension payment with our Bank.

2. Can the pensioner draw his/ her pension through a Bank Branch? 
Ans: Yes. Even the Government employees earlier drawing their pension from a Treasury or from a Post Office will have the option to draw their pension from the authorized Bank’s Branches

3. Where will the Pensioner open his/her pension account? 
Ans: The pensioner will open his/her SB/CA account at the Branch of his/ her choice/ convenience (Home Branch) as hitherto.

4. What should a retiring person do to draw his/her pension from a SBI Branch? 
Ans: The retiring person should open an account with a SBI Branch and advise this Account number and Branch to the concerned Pension Sanctioning Authority for release of his/her pension.

5. Is it necessary for the pensioner to open a separate pension account for the purpose of crediting his/ her pension in authorized bank? 
Ans: The pensioner is not required to open a separate pension account. The pension can be credited to his or her existing savings/current account maintained with any Branch of the Bank selected by the pensioner.

Read also: Procedure for Transfer of Pension Account from one Branch/Bank to Another – CPAO Guidelines

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