Central government employees: Take this step before this deadline to get your pension in SBI account
Central government pensioners: SBI revealed that there is a deadline to get things started for a smooth conclusion.
You will be surprised to know that the State Bank of India (SBI) has over 54 lakh accounts of pensioners with it and it has 14 dedicated Centralised Pension Processing Cells (CPPCs). A large number of central government employees have their salary account with this bank only and many prefer to have their pension account with it only. If you are a central government employee or a state government staffer who is nearing retirement and desire to open a pension account with the SBI, then do not wait for retirement day. Notably, SBI collaborated with Central Govt agencies including Defence, Indian Railways, India Post, Telecom and others), state government departments and various autonomous bodies for pension processing.
SBI revealed that there is a deadline to get things started for a smooth conclusion. It said "To get pension from State Bank of India, the retiring employee has to start the process at least 6 months prior to retirement. In the process, the employee has to open an account with any branch of State Bank of India, if required with spouse (which is permitted now) and has to provide the account number to the Department from which he/she retires".
SBI said that the employee will have to fill up the account details in the pension papers. While opening an account, the retiree has to give his/her PAN number, mobile number and email_id (if available). PAN No. will enable correct accounting of the Pensioner's TDS.
"On receiving the Pension Payment Order (PPO), the prospective pensioner has to approach the branch where from the pension is to be availed. He/she has to submit an undertaking and Life Certificate. On receiving the required documents from the prospective pensioner, the documents will be sent to concern CPPC for further processing at their end," reads the details on the bank's website.
After completion of data entry at CPPC, pension shall be credited to the identified account within a period of 3-4 days. However, the pensioner will be required to submit his/her life certificate to the bank every year in the month of November to enable the Bank to pay pension continuously.
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Extended benefits to pensioners by State Bank of India
1. Pension slip from the pension paying branch.
2. SMS alert on mobile phone with pension payment details.
3. Annual statement of pension.
4. Facility to submit life certificate at any branch of State Bank of India.
5. Quick grievance redressal system
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