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StaffCorner

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20 May, 2014 02:11 PM

Employees to get pension payment order soon after retirement

Employees to get pension payment order soon after retirement In order to check delay in disbursal of pension, the Centre has decided to give Pension Payment Order (PPO) to all central government employees at the time of retirement along with their other dues.

At present, the scheme for payment of pensions to central government civil pensioners through authorised banks, issued by the central pension accounting office provides for an undertaking to be submitted by the retiring government servant or pensioner to the pension disbursing bank before commencement of pension.

"It has been found that the first payment of pension after retirement gets delayed mainly due to two reasons.

"One, the delay in receipt of intimation by the pensioner that pension papers have reached the bank and two, delay on part of the pensioner in approaching the bank for submission of undertaking," the Ministry of Personnel said.

The pensioner would no longer be required to visit the bank to activate the first payment of pension, it said in a recent order.

Read more @ http://www.business-standard.com/article/pti-stories/employees-to-get-pension-payment-order-soon-after-retirement-114052000650_1.html



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