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Pension Disbursement

Axis Bank offers Pension Disbursement Services as part of its government business solutions, helping the Central Government and its departments manage their pension payments with ease. Axis Bank has been authorised by RBI and Central Pension Accounting Office (CPAO) for pension disbursement through its 218 authorised branches across the country. Axis Bank provides Central Civil Pension Disbursement, Defence Pension Disbursement and other Pension Disbursement services such as telecom Pension. You can get an overview of Axis Bank’s Pension Disbursement Services below

Central Civil Pension Disbursement Defence Pension Disbursement Other Pension Disbursement

The Bank is authorised by RBI and Central Pension Accounting Office (CPAO) for disbursement of Central Civil Pension through its 218 authorised branches across the country.
The details towards availing Pension Disbursement Facility from Axis Bank is as under:

  • For existing Pensioners of Central Govt. Departments and Ministries - This facility can be availed by opening a Pension Payment Savings Bank Account with any authorised Axis Bank Branch and thereafter following the necessary procedures prescribed by CPAO for change of Bank for Pension Account for receiving or drawing pension.
  • For prospective Pensioners of Central Govt. Departments and Ministries - This facility can be availed by opening a Pension Payment Savings Bank Account with any authorised Axis Bank Branch and providing the Account details to the Pay and Accounts Office (PAO) of the concerned Department or Ministry prior to retirement. In case of existing Axis Bank customers, the details of the Saving Bank Account with the Bank need to be provided to the Pay and Accounts Office of the concerned Department or Ministry prior to retirement.

The Bank is authorised by RBI and Ministry of Defence for disbursement of Pension to Armed Force (Army, Navy and Air Force) personnel through its 151 authorised branches across the country.
The details towards availing Pension Disbursement Facility from Axis Bank is as under:

  • For existing Pensioners of Defence Departments and Ministries - This facility can be availed by opening a Pension Payment Savings Bank Account with any authorised Axis Bank Branch and thereafter following the necessary procedures prescribed by Ministry of Defence for change of Bank for Pension Account for receiving or drawing pension.
  • For prospective Pensioners of Defence Departments and Ministries - This facility can be availed by opening a Pension Payment Savings Bank Account with any authorised Axis Bank Branch and providing the Account details to the concerned Pension Sanctioning Authority or Defence Unit prior to retirement. In case of existing Axis Bank customers, the details of the Saving Bank Account with the Bank need to be provided to the Pension Sanctioning Authorities (PSAs) of the concerned Defence Unit prior to retirement.

The Bank has also received the authorisation from RBI and Ministry of Communications and Information Technology for disbursement of Telecom Pension through its 192 authorised Branches across the country and which shall commence shortly.

Benefits for Account Holders

Benefits to the Axis Bank Pension Payment Savings Bank Account Holders:

The Axis Bank Pension Payment Savings Bank Account offers several benefits, including a free international debit card, personal accident insurance cover of ₹2 lakhs, access to over 2,015 ATMs, and other value-added services.

The features of the Pension Payment Savings Bank Accounts for Government Pensioners are as follows:

ParameterFeatures
NamePension Payment Savings Bank Account
NatureAll Pension Accounts can be Single or Joint Bank Accounts. Pension is not permitted to be paid by cash. However, Standing Instructions may be accepted and chequebook may be issued.
EligibilityIdentity to be established through Pension Payment Order (PPO) issued by the concerned Pension Paying Authority
Balance RequirementNo Minimum Balance
Anywhere BankingAvailable at all centres
Cheque BooksFree Multi-city At-Par Cheque Books
International Debit-cum-ATM Card (Visa Card)Joining Fee and Annual Fee applicable
Flexi {2-in-1} Encash Deposits
  • Available subject to terms and conditions
  • Auto Sweep and Reverse Sweep facility available
Internet BankingOnline generation of Pension Payment slip (New Feature !!)
Tele-bankingFree, Available 24 hours at select centres
Mobile Banking FacilityAs made available to Savings Bank Accounts
Demat AccountAccount opening charges waived
Safe Deposit LockersPreferential allotment
Digital Era Banner Neo Credit CardNeo Credit Card

Authorised Branches For Defence Personal

Axis Bank is authorised by RBI and Central Pension Accounting Office (CPAO) to carry out Pension Disbursement Services for Central Civil Pension through its 218 authorised branches across the country. The pension disbursement facility can be availed by opening a Pension Payment Savings Bank Account at the authorised Axis Bank Branches for civil pension. Please refer to the table below to find your nearest authorised branch for civil pension.

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Pension Disbursement Services

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