fbpx
  Previous   Next
HomeBusinessJoint Bank Account Not Mandatory For Spouse Pension: Government

Joint Bank Account Not Mandatory For Spouse Pension: Government

The government has reiterated that opening a joint bank account is not mandatory for receiving a spouse’s pension. Minister for personnel, public grievances and pensions Jitendra Singh clarified this after a meeting with senior officials of the pension department.

He said that in case the head of the office is satisfied that it is not possible for the retiring government servant to open a joint account with his or her spouse, for reasons beyond his or her control, then this requirement may be relaxed.

All banks disbursing central government pension have been advised that in case the spouse (family pensioner) opts for the existing joint bank account for the credit of family pension, banks should not insist on opening a new account, a statement issued by the ministry said.

A joint bank account with a spouse is however desirable and it is to be opened with their spouse in whose favour an authorisation for family pension exists in the Pension Payment Order (PPO), the statement further said.

Operation in these accounts would be on “former or survivor” or “either or survivor” basis as desired by the pensioner, the minister said.

The main reason behind the opening a joint bank account is to ensure that family pension can be commenced without any delay and the family pensioner does not face any hardships for the opening a new pension bank account, the statement said.

This also ensures minimum documentation for the family pensioner while submitting a request for commencement of family pension, it said.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More News

India Has Two Major Obstacles In Dealing With China: Jaishankar 

Speaking at the media summit, Mr. Jaishankar said asserted that India has two enormous handicaps in dealing with China including the defeat in the...

Assam CM’s Dig At Rahul Gandhi Says Rahul Gandhi Looks Like Saddam Hussain

Assam chief minister Himanta Biswa Sarma in his latest dig at Rahul Gandhi said that the Congress leader's looks have changed and he looks...

Nearly 75% Twitter Employees Layoffs In A Month, Will Elon Musk’s New Policy Be Able To Assure The Employees

After cutting nearly 75% workforce of Twitter in less than a month since the takeover, Elon Musk is now reported to have kept the...

RELATED NEWS

India Has Two Major Obstacles In Dealing With China: Jaishankar 

Speaking at the media summit, Mr. Jaishankar said asserted that India has two enormous handicaps in dealing with China including the defeat in the...

Nearly 75% Twitter Employees Layoffs In A Month, Will Elon Musk’s New Policy Be Able To Assure The Employees

After cutting nearly 75% workforce of Twitter in less than a month since the takeover, Elon Musk is now reported to have kept the...

Keep Your Money Safe, Jeff Bezos Warns Economic Recession

Amazon founder Jeff Bezos recently warned consumers and businesses that they should consider postponing large purchases during the holiday season as an economic recession...