Continuation of either or survivor bank account for pension after death of a pensioner

Payment of pension to the Central Government pensioners- Continuation of either or survivor bank account for pension after death of a pensioner

RESERVE BANK OF INDIA

Ref. DGBA.GAD No. H-7386/145.01.001/2012-13
June 3, 2013

Payment of pension to the Central Government pensioners- Continuation of either or survivor pension account after death of a pensioner

We have been receiving complaints from the pensioners that on death of a pensioner, banks are insisting on opening of a fresh account by the widow/widower of.the pensioner for the purpose of family pension.
2. In this connection, we advise that in case the spouse (Family pensioner) opts for existing joint account for credit of family pension, banks should not insist on opening of a new account when the spouse is the survivor and having a joint account with the pensioner and in whose favour an authorization for payment of family pension exists in the Pension Payment Order (PPO).
3. We advise you to issue suitable instructions to your Regional Offices/branches authorised to disburse pension to the Central Government pensioners

Yours faithfully,

Sd/-
(Satyapal Unni)
Assistant General Manager

Download RBI circular DGBA.GAD No. H-7386/145.01.001/2012-13 dated 03.06.2013

Get real time updates directly on you device, subscribe now.

Comments
Loading...

Add A Knowledge Base Question !

You will get a notification email when Knowledgebase answerd/updated!

+ = Verify Human or Spambot ?