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Monday, 12 June 2017

Recording of PPO Number in the passbook of Pensioners / Family Pensioner

RBI's instructions to Bank

RESERVE BANK OF INDIA RBI/2016-17/319 DGBA.GBD.No.3235/45.01.001/2016-17 June 8, 2017

All Agency Banks

Dear Sir / Madam

Recording of PPO Number in the passbook of Pensioners / Family Pensioners

As you are aware, it has been decided to record the PPO number in all the pension passbooks of the pensioners/family pensioners issued to them.
This is to alleviate the difficulties reported by pensioners/family pensioners to get duplicate Pension Payment Orders (PPO) in case of missing of original PPO, transfer of pension account from one bank/branch to another bank/branch, commencement of family pension to spouse or dependent children after the death of pensioner, etc. in the absence of ready availability of PPO numbers.

2. Necessary instructions in this regard have already been issued to all authorised banks by the Central Pension Accounting Office vide their Office Memorandum CPAO/Tech/Clarifications/P&PW/2014-15/426-497 dated September 17, 2014 and Office of Principal Controller of Defence Accounts (Pension) vide their Circular No.185 dated November 28, 2016 (copies enclosed).

3. However, it has been noticed that a few agency banks have not yet implemented the instructions in all their branches. Accordingly all agency banks are advised to record the PPO numbers on the passbook of pensioners/family pensioners.

Yours faithfully
(Partha Choudhuri)
General Manager

Most important Para of RBI latest circular Recovery of excess/wrong payment made to a pensioner

Because of this never have excess money in ur pension account

11. Details of the uniform procedure evolved for recovery of excess/wrong payments made to pensioners drawing pensions under the Scheme for payment of pension to Central /Civil/Defence/Railways pensioners through public sector banks, are given below :

a) As soon as the excess/wrong payment made to a pensioner comes to the notice of the paying branch, the branch should adjust the same against the amount standing to the credit to the pensioner‟s account to the extent possible including lumpsum arrears payment.

b) If the entire amount of overpayment cannot be adjusted from the account, the pensioner may be asked to pay forthwith the balance amount of overpayment.

c) In case the pensioner expresses his inability to pay the amount, the same may be adjusted from the future pension payments to be made to the pensioners. For recovering the overpayment made to pensioner from his future pension payment in instalments 1/3rd of net (pension + relief) payable each month may be recovered unless the pensioner concerned gives consent in writing to pay a higher instalment amount.

d) If the overpayment cannot be recovered from the pensioner due to his death or discontinuance of pension then action has to be taken as per the letter of undertaking given by the pensioner under the scheme.

e) The pensioner may also be advised about the details of over payment/wrong payment and mode of its recovery.

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