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Payment of pension to the Central Government pensioners- Continuation of either or survivor pension account after death of a pensioner: RBI’s Instruction

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Instructions by RBI
All agency banks disbursing Central Government pension have been advised 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).

Contents of RBI’s Circular: DGBA.GAD.No.H-7386/45.01.001/2012-13, dated June 3, 2013 is reproduced here:

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
Source: www.cpao.nic.in
[http://cpao.nic.in/pdf/DGBA_GADNO_H_7386.pdf]

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