Rules on the credit of the pension on the basis of the e-PPO in the simplified pensioners account
According to an official memorandum (MO) published on 12/07/2021 by the Ministry of Finance (MoF), the first credit of a pension to the account of a retiree or family retiree should be based on an e- PPO, the physical PPO being verified thereafter. According to the OM, “It has been observed that the first pension credit to the account of the retiree / family pensioner is delayed because the bank CPPCs await the receipt of the physical PPO for verification before starting the payment of benefits. delay in the pension credit to the account of the pensioner due to this caused undue hardship to the pensioners. “
The Ministry of Finance also clarified in the OM that âin order to streamline the process to expedite the payment of the first loan, all heads of CPPCs of licensed banks are hereby responsible for ensuring that the credit of the first pension to the pensioner / family pensioner account takes place immediately on the basis of the e-PPO and e-SSA received from the CPAO.The physical PPO booklet and related documents will continue to be sent to the CPPC until further notice.
Upon receipt of this, the banks CPPC will verify the details and if any differences are found between the e-PPO and the manual PPO, the same should be reported to the CCP, CPAO within one month so that the necessary corrective actions are taken. added that “we can also ensure that the e-Scroll of all pension payments made is remitted the same day to the CPAO by intimidating RBI”.
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