Guidelines for Pensioners: Transfer of Pension Account
Transfer of Pension Account
If you desire to draw your pension from another paying agency, make a request to your current Pension Disbursing Agency (PDA) for transfer of your pension account to the PDA from where you now wish to draw your pension.
Procedure for Transfer of Pension Payment from One Branch/Bank To Another
1. Application for transfer of pensions may fall under the following three categories:
(a) transfer from one paying branch to another of the same Authorised Bank(AB) within the same station or at a different station;
(b) transfer from one AB to another within the same station (such transfers to be allowed only once in financial year);and
(c) transfer from one AB to another AB at a different station.
2. Request falling under category (a) above may be entertained by the AB itself. In case transfer is at the same station, Link Branch will make necessary entries in the register maintained by them in the form in Annexure VIII and forward the disburser�s portion of PPO to the paying branch at which payment is desired under intimation to the Central Pension Accounting Office and the Pensioner. In case the transfer is at different station, Link Branch at new station for arranging payment through the new paying branch. Necessary intimation of effecting such transfer will be sent to CPAO by the new as well as old link branches in the form as at Annexure XXI for keeping a note of change in their records under intimation to the pensioner. The receiving Link Branch on receipt of the pension documents will ensure forwarding the PPO to the paying branch within three days and intimate the pensioner simultaneously.
Before forwarding the disbursers portion of PPO to the new paying branch/link branch, it will be ensured that the month up to which the payment has been made is invariably indicated in the disbursers portion of PPO.
3. (a) In cases falling under categories (b) & (c) above, when a pensioner applies for transfer on a simple sheet of paper, the old bank (transferer paying branch) will send a letter duly signed by its Branch Manager to the Branch Manager of the new paying branch, wherever located, along with photocopy of the pensioners PPO showing the last payment made. This will be sent by speed-post/Courier/Regd. post to the new paying branch at the new location, along with a copy each to the pensioner, CPAO and for information to the Link Branch of the old paying branch. Simultaneously, the old paying branch will send the Bank�s copy of the PPO to its Link Branch, duly completing all entries for transmission to the new Link Branch. However, pensioners copy of PPO will be retained by pensioner and produced at the new paying branch.
(b) The new paying branch will commence the pension payment immediately on receipt of letter of the last payment certificate as at (a) above. Simultaneously, it will send intimation to its Link Branch with full details of the commencement of the pension. The old paying branch and its Link Branch will ensure that the banks copy of PPO is transmitted to the new paying branch through its Link Branch.
(c) Pension will be paid for 3 months on the basis of the photocopy of the pensioners PPO at transferee (New) branch, from the date of last date of payment made at the transferer (Old) branch. During this time, it will be joint responsibility of both transferer (Old) and transferee (New) branches to ensure that all the documents, under the procedure, are received by the transferee (New) branch within the period of 3 months.
To avoid the risk of overpayment at the time of transfer, the following certificate may be recorded on the Disbursers portion of the PPO by the paying branch of the AB:
Certified that payment of pension has been made upto the month of ..and that this PPO consists of..continuation sheets for recording disbursement.
Except as provided above, the transfer of a pension from one payment point to another will not ordinarily be permitted.
On the other-hand, most participants can’t support but to gaze in the card having huge pit,
therefore the amount of their peeking period is longer.