Pension account single or joint

Pension Account Single or Joint which is correct ?

In this article you will get to know that which is correct procedure to draw your pension and why. Is it correct to draw pension in your single account or it should be a joint account with your spouse ? This is a confusion and the Clerks of your unit may guide properly if he possess proper knowledge on it. Govt has issued guidelines from time to time for awareness of pensioners in this regard.

For Pensioners, a joint bank account with wife or husband is however desirable and it is to be opened with their wife or husband in whose favor an authorisation for family pension exists in the Pension Payment Order (PPO).

According to latest orders, Joint bank account is not mandatory for spouse pension. The Govt has ensured the “ease of living” for all sections of society including retirees and pensioners who are the nation’s assets with their experience and long years of service rendered by them. However we should knw the latest position.

Family pension can drawn from the existing joint account as per the banks disbursing central government pension. The also advised that in case the family pension the existing joint bank account for credit of family pension, banks should must be allowed to be continued. They will not insist on opening a new account for family pensioners.

To know details kindly watch this video upto end and know the govt rules and regulations.

Please Watch this video


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