CHECK YOUR PENSION ENTITLEMENT (updated as on 16 August 2011) Introduction 1. We all believe in the system and expect that justice will be ...
CHECK YOUR PENSION ENTITLEMENT
(updated as on 16 August 2011)
Introduction
1. We all believe in the system and expect that justice will be done to us. However your presumption that your bank is paying you correct pension, may not be in your best financial interests. Experience indicates that Banks are frequently doing the mistake of paying lower rates of pension vis a vis authorisation to many pensioners due to poor understanding of defence pension provisions by their staff. Therefore it is a must for every pensioner to know his/her correct entitlement of pension.
2. The pensioners, who have retired on or after 01-01-06, generally do not have any problem in getting their correct pension. The CDAs in their case have issued Pension Payment Order (PPO) as per the new provisions of VI CPC. For these pensioners the banks have no option, but to pay the pension as specified by the CDA in the PPO. However, the story is different for pre 01-01-06 retirees.
3. Considering the large volume of pre-2006 pensioners (25 lacs Appx), the CDAs have expressed their inability to issue a revised PPO as per VI CPC entitlement. The Govt has therefore issued orders to Pension Disbursing Agencies (Banks, Treasury Offices etc) to calculate the revised pension as per VI CPC) and pay the same to the pre-2006 pensioners directly. Govt has issued instructions to banks (with necessary reference tables) for calculating and releasing the revised pension. Efforts are on at the highest level to ensure that revised PPOs are issued for pre-2006 pensioners also, by he CDAs in near future. However it is linked to digitalisation of past records and data capture of pre-2006 pensioners on a large scale by CGDA and could take some time. Therefore as on date, it is only banks who will decide the post VI CPC revision of pension, for pre-2006 pensioners
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