SBI Pension Update: State Bank of India says that since this pensioner’s pension account is with the bank, they do not need to go to the bank for many important tasks. The bank provides the facility to do this work easily from home.
More than 44 lakh pensioners across the country get their pension with State Bank of India (SBI). To cover pensioners, SBI has created 18 Central Pension Processing Centers (CPPCs), where pension is sent electronically. To avail pension through State Bank of India, a retired employee can open an account in any branch of the bank. Aadhaar number, PAN number, mobile number and email_id (if available) are the basic requirements for opening an account.
If the pension sectioning authority/department has started issuing e-PPO, then in most of the cases the pension will start automatically, as all the formalities are completed digitally. If the printed PPO is issued, it is sent directly to the Centralized Pension Processing Center along with the undertaking and other related documents. State Bank of India says that since this pensioner’s pension account is with the bank, they do not need to go to the bank for many important tasks. The bank provides the facility to do this work easily from home.
What is pension account?
On retirement, employees can convert their salary account or savings account into a pension account in which they can receive their monthly pension. When a state or central government employee retires, they get retirement benefits and monthly pension in their account. Converting your existing account to a pension account eliminates the need for a new account. If a retired person already has a savings account in a bank, they are not required to open another pension account in the same bank. Pension can be deposited into the existing savings account every month.
1- Facility to submit life certificate
Pensioners need to submit life certificate every year in the month of November. The bank says that for those getting pension in SBI, there is no need to go to the bank and submit the life certificate.
The Bank’s branches have the facility to accept Digital Life Certificate (DLC) and Life Certificate (LC) in printed forms. The bank says that pensioners/family pensioners can avail the facility of submitting Aadhaar based video life certificate through the Bank Pension Services website. Whereas doorstep collection facility is available for Life Certificate (LC).
2- All details available online
Apart from this, pensioners do not need to go to the bank to get information about their pension. Pension details are available on the bank’s website. Every time pension arrives, you are informed about it through SMS. For this your mobile number should be registered with the bank. Apart from this, after the release of pension through email ID, pension slip is provided to the pensioners every month on their registered email ID.
Pensioners can download it by logging in through internet banking. Pensioners can login to Yono SBI and request for pension slip which is sent to their registered e-mail ID.
3- Doorstep banking and other facilities
The bank prints the PPO number on the savings bank passbook. So that it is easy to find out. The bank also provides doorstep banking facility to its pensioners for depositing the life certificate. Apart from this, other data and information related to pension is available on Pensionseva website (https://www.pensionseva.sbi) and Pensionseva mobile app Pensionseva Help Document. Pension loan facility is available in the Pension Payment Branch (loan amount is 18 times the monthly pension). This facility is also available in non-home branches for defense and paramilitary personnel.
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