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Pension Disbursement Account
Manage your pension payments with ease and enjoy convenient banking services with Axis Bank's Pension Disbursement Account. The Pension Disbursement Account simplifies banking for individuals earning pension. You gain access to modern banking solutions at minimal cost, ensuring your financial needs are met with ease and efficiency.
Pensioners can now download 'DIRGHAYU' Mobile App from Google Play store (Android), Apple Store (iOS) or CPAO's website- "https://cpao.nic.in"This app provides details of the last 24 pension disbursements and a platform to raise grievances.
Features & Benefits
Seamless banking anytime, anywhere
Bank from any centre as well as mobile, internet and telebanking
Global access made easy
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Smart savings with zero hassles
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Eligibility for Pension Disbursement Account
Documentation for Pension Disbursement Account
Pension Disbursement Account - Digital Life Certificate
One of the major requisites for the pensioners post their retirement from the service, is to provide life certificates to the authorised pension disbursing agencies like the bank, following which their pension is credited to their account. In order to get this life certificate, the individual drawing the pension is required to either personally present himself/ herself before the Pension Disbursing Agency or have the Life Certificate issued by the authority where he/she had served earlier and have it delivered to the disbursing agency.
Jeevan Pramaan is a biometric enabled digital service for pensioners. Pensioners of Central Government, State Government or any other Government organisation can benefit from this facility. Jeevan Pramaan uses the Aadhaar platform for biometric authentication of the pensioner. A successful authentication generates the Digital Life Certificate which gets stored in the Life Certificate Repository. The Pension Disbursing Agencies can access the certificate online.
With this initiative the pensioner's requirement to physically present himself/herself in front of disbursing agency or the certification authority is not required, benefiting the pensioners and cutting down on unnecessary logistical hurdles.
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Frequently Asked Questions
The pensioner is not required to open a separate pension account. The pension can be credited to his or her existing savings account maintained with any branch of the bank selected by the pensioner.
The retiring person may open an account with Axis Bank Branch and the account number and branch details to the concerned pension sanctioning authority for release of his/her pension.
Yes, government employees, Central Govt employees can open their pension accounts with Axis Bank.
There is no minimum balance requirement for Pension Accounts.
For opening of Pension accounts KYC documents of the customer along with the pension proof duly signed from the employer.
Yes, even the government employees drawing their pension from a treasury or from a post office will have the option to draw their pension from the authorized bank's branches.
Pensioner can transfer his/her pension account from one branch to another branch of the same bank within the same center or at a different center. Also, pensioner can transfer his/her account from one authorized bank to another authorized bank at different center.
Yes, but only spouse can be the joint holder in Pension Accounts.
The Joint Account of the pensioner with spouse can be operated either by ‘‘Former or Survivor" or “Either or Survivor".
The account is not allowed to be operated by a holder of Power of Attorney.
If the pensioner is physically handicapped/incapacitated and unable to present at the branch, the requirement of personal appearance is waived. In such cases the bank official visits the pensioner’s residence/hospital for the purpose of identification and obtaining specimen signature or thumb/toe impression.
The disbursement of pension by paying branch is spread over the last four working days of the month, except for the month of March pension is credited on or after the first working day of April.
NRI pensioner needs to submit a declaration at the pension paying branch that he/she is an NRI. On the basis of declaration the existing account will be converted into a Non Resident - Ordinary (NRO) account and NRI pensioner need to send a life certificate every year in the month of November to his/her pension paying branch.
The pensioner should submit the details of investment to Pension Paying Branch.In this regard, to avoid possibility of excess deduction of TDS, It is advisable that pensioner should submit his/her investment & other details related to claiming relief under Income Tax Act well in advance i.e. at the beginning of every Financial Year. Accordingly the Branch will arrange for deduction of Income Tax and issue a certificate containing details of Income Tax deducted from pension by the Pension Paying Branch.
A pensioner, who is old, sick or lost both his / her hands and, therefore, cannot sign, can put any mark or thumb/ toe impression on the form for opening of pension account. While withdrawing the pension amount he/ she can put thumb/toe impression on the cheque/withdrawal form and it should be identified by two independent witnesses known to the Bank one of whom should be a Bank official.
Yes, Either or Survivor pension account can be continued after death of the pensioner, when spouse is the survivor and having a joint account with the pensioner and in whose favour an authorisation for payment of family pension exists in the Pension Payment Order (PPO).
The Home Branch through which pension was paid to the pensioner will be the contact point in the case of Family Pension.The family member of pensioner, as indicated in the PPO, has to visit the Branch from where the pension was being released every month, with the following documents:
The family member of pensioner, as indicated in the PPO, has to visit the Branch from where the pension was being released every month, with the following documents:
- Death Certificate of the pensioner (original plus one photocopy) the original will be returned after verification by the bank.
- Non remarriage certificate and non-employment certificate to be submitted. Simple declaration to be attested by the Bank official or any gazetted officer. The Performa will be available at the Branch.
- Life Certificate of the family pensioner along with other mandatory Certificates and an Undertaking if FMA granted to Central Civil Pensioner on prescribed proforma (These Certificates and Undertaking are also mandatory to submit to Bank once every year in the month of November).
- Once all the documents are processed, the family pension will start from next month and the same will be paid along with arrears if any.
The family pension commences after the death of the pensioner. The family pension is payable to the person indicated in the Pension Payment Order( PPO) on receipt of a death certificate and application from the family member of pensioner.
Yes. The pensioner is required to furnish a Life Certificate / Non - Employment Certificate or Employment Certificate to the bank in the prescribed format in the month of November every year to ensure continued receipt of pension without interruption. The pensioner can also present himself / herself at any branch of the pension paying bank for being identified for issue of life certificate. In case a pensioner is unable to obtain a Life Certificate on account of serious illness / incapacitation, bank official will visit his / her residence / hospital for the purpose of obtaining the life certificate.A pensioner having Aadhar number can alternatively submit Jeevan Pramaan, a digital life certificate introduced by the Government of India. For obtaining this, he / she will have to enrol and biometrically authenticate himself / herself by downloading the application generating digital life certificate from the website Jeevanpramaan.gov.in or other means described on the website.
Yes,
- Pensioner can submit DLC from his residence, if the pensioner is having a PC/Laptop with internet connection and Registered Biometric Device.
- Under the Door Step Banking for non-financial transactions, Bank has provided the facility for pick-up of Life Certificate from the residence of pensioners having age of more than 70 years and differently abled or infirm persons (having medically certified chronic illness or disability) including those who are visually impaired
As per Govt. instructions, Life Certificate, duly witnessed, should be submitted to the Pension Paying Branch in the month of November every year.In case of Senior Pensioners of the age of 80 years and above, Government has allowed to submit their Life Certificate w.e.f. 01 October every year instead of November which would be valid till 30th November of the subsequent year.The Life Certificate form will be available at our branches or can be downloaded from the Government website cpao.nic.in
If Life Certificate is not submitted in the month of November of a year, payment of pension for November and onwards will not be paid to the pensioner, in accordance with the instructions of the Govt.
Once Life Certificate is updated in the Pension System, pension will get paid alongwith arrears on the next pension processing cycle.
This is Aadhar based digital verification version of Life Certificate.Government of India, on 10th November, 2014 has launched “Jeevan Pramaan” an “Aadhaar based Digital Life Certificate” for pensioners. This initiative is in addition to the existing system of physical submission of Life Certificate by pensioners at the pension disbursing branches or any branch of the Bank at his convenience.Pensioner can visit a nearby CSC centre, Bank Branch or any Government Office whose details are provided under “locate centre” on jeevanpramaan.gov.in and bio-metrically authenticate his / her Life Certificate in real time by giving his/her Aadhaar number and other pension details related to their pension Bank account.After successful submission of digital Life Certificate, pensioner will get a SMS on his/her mobile giving the transaction ID. Pensioner will be able to download computer generated life certificate from jeevanpramaan.gov.in using this transaction ID for their records.
Yes, Pensioner, who produces a Life Certificate in the prescribed form in Annexure-XVII signed by any person specified hereunder, is exempted from personal appearance.
- A person exercising the powers of a Magistrate under the Criminal Procedure code;
- A Registrar or Sub-Registrar appointed under Indian Registration Act;
- A Gazette Government servant;
- A Police Officer not below the rank of Sub-Inspector in-charge of a Police Station;
- A Postmaster, a departmental Sub-Postmater or an inspector of Post Offices;
- A Class-I Officer of the Reserve Bank of India, an officer (including Grade II Officer) of the State Bank of India or of its subsidiary
- A Pensioned Officer who, before retirement, exercised the powers of a magistrate
- A Justice of Peace
- A Block Development Officer, Munsif, Tehsildar or Naib Tehsildar
- A Head of Village Panchayat, Gram Panchayat, Gaon Panchayat or an Executive Committee of a Village
- A Member of Parliament, of State legislatures or of legislatures of Union Territory Governments/Administrations
- Treasury Officer.
- In the case of a pensioner drawing his pension through a Public Sector Bank the Life Certificate may be signed by an officer of a Public Sector Bank
- In the case of pensioner residing abroad and drawing his pension through any other Bank included in the Second Schedule to the Reserve Bank of India, Act, 1934, the Life Certificate may be signed by an officer of the Bank.
- Further, a pensioner not resident in India in respect of whom his duly authorized agent produces a Life Certificate signed by a Magistrate, a Notary, a Banker or a Diplomatic Representative of India is exempted from special appearance.
RBI permits NRIs/PIOs to credit their current income like pension paid by any authority in India to their NRE Saving Bank, provided the Authorised Dealer is satisfied that the credit represents current income and Income-Tax has been deducted / paid / provided on these incomes, as the case may be. NRI / PIO customers interested in receiving their monthly pension in NRE Savings Bank, have to submit ‘NRE Tax Undertaking’ to initiate the process. The undertaking has to be submitted in the month of November every year along with ‘Life Certificate’.
In the case of a pensioner residing abroad, the following methods are available for submission of life certificates (as per DoPPW OM dated 20.02.2020).
- If he/she is drawing pension through any bank included in the Second Schedule to the Reserve Bank of India Act, 1934, the life certificate may be signed by an officer of the Bank at the foreign offices.
- An authorized official of the Embassy of India/ High Commission of India/Indian Consulates may issue the life certificate.
- In case the pensioner is unable to visit the Embassy/ Consulate, he/she may submit requisite documents by post to the Embassy/Consulate, including Doctor’s Certificate showing the pensioner’s inability to present himself/herself in person. Embassy of India/ High Commission/ Indian Consulates may also assist pensioners/family pensioners in submission of the Life Certificate.
- A Pensioner, not resident in India, in respect of whom a duly authorized agent produces a Life Certificate, signed by a magistrate or an officer of an Indian authorized Bank or Diplomatic Representative of India, is exempted from special appearance.
The payment of pension, in respect of PPOs received at Centralized Pension Processing Cell (CPPC) up to one week before last date of a month, will normally commence from the same month.
Payment of arrears, on account of revision of pension etc., received at Centralized Pension Processing Cell (CPPC) of the Bank up to one week before last date of a month, will normally be made along with monthly pension.
Yes, monthly pension slip can be downloaded through Internet Banking by the pensioners. Path :- Services>>Tax Services>>Pension Slip. In other cases pension slip can also be obtained by pensioners from any pension paying branch.
Yes, SMS is triggered to the registered mobile number of the pensioner for the monthly pension credit.
The details for a year would be provided to the Pensioner by the Pension Paying Branch by obtaining the details from the centralized database upon request.
Yes. The pension paying branch before commencement of pension obtains an undertaking from the pensioner in the prescribed form for this purpose and can recover the excess payment made to the pensioner's account due to delay in receipt of any material information or due to any bonafide error. The bank has also right to recover the excess amount of pension credited to the deceased pensioner’s account from his/ her legal heirs/nominees.
The pensioner can visit the Official Website of the concerned Government Department as also Reserve Bank of India Website (www.rbi.org.in) to get the information about pension related issues.
The pensioner may approach any Pension Paying branch for resolution and help. The branch will be point of contact with help from the CPPC, if needed.
Yes. As per Income Tax Act, TDS is applicable on pension to individual male or female & senior citizen except certain categories of disability pension (i.e. disability element and service element of a disabled officer of the Indian Armed forces) which are exempted.
The pension paying bank is responsible for deduction of Income Tax from pension amount in accordance with the rates prescribed by the Income Tax authorities from time to time. While deducting such tax from the pension amount, the paying bank, on the basis of declaration submitted by the pensioner, will also allow deductions on account of relief to the pensioner available under the Income Tax Act. The paying Branch will also issue a certificate of tax deduction on the prescribed form to pensioner in the month of April each year.
Yes, in case the PAN and Adhaar are not linked, TDS will be deducted at higher rate as per the regulation of Ministry of Finance.
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