BANKS SHOULD ISSUE PENSION PAID STATEMENTS TO EVERY PENSIONER

Exwel Trust's service to Family pensioners

BANKS SHOULD ISSUE PENSION PAID STATEMENTS 

TO EVERY PENSIONER

In order to verify whether a Defence pensioner/Family pensioner is being paid the correct rate of pension, the pension paying banks should issue a Pension Paid Statement to every pensioner.  The statement should invariably contain the following:-

            Basic Pension              ..          ..          ..________

            Dearness Relief with Percentage.       ..________

            Fixed Medical Allowance.      ..          ..________

            Additional Pension if any..     ..          ..________

            Total Pension…          ..          ..          ..________

To justify the Fixation of correct Basic pension, the Banks should also indicate the following particulars of the pensioner in the statement.

            Rank of the Pensioner.

            Qualifying service

            Group of the Pensioner.

            Date of Birth of the Pensioner.

            In case of Family pensioner:-

            The date of death of her husband.

            The date of birth of the family pensioner.

The above particulars are very important for fixation of pension and family pension in respect of pensioners who retired before 1.1.86, 1.1.96, 1.1.2006.  As the system of issuing Corr. PPO to each and every Defence pensioner is not followed, the fixation of revised pension on various dates by the banks becomes difficult.

The present system of issuing Sangam PPO is doing more harm than good to the pensioners.  Most of the Sangam PPOs do not show the correct revised pension.  As a result, the banks start reducing the pension and start recovery on receipt of Sangam PPO.

If every bank start issuing pension statement with the above particulars, the accuracy of pension payment will improve and the complaints will reduce.

If the banks are not having the above particulars of the pensioners, they should obtain from the individual pensioner or from PSA immediately.  Without having data bank of the above particulars, the Banks can never pay correct rate of pension to a defence pensioner in future.  Better late than never.  It is time to update the particulars for payment of correct OROP arrears and revised pension.  OROP Tables have been simplified to a large extent.  The Groups have been reduced to two.  Table No.7 of JCOs and Ors has been made basis for all other tables.  Therefore, in future, if the Banks have the Rank, Service and Group and Date of Birth of a pensioner, there will not be any confusion for arriving at his correct pension.