Important news related to pension payment: Dearness relief through life certificate, these 8 big rules of RBI for the convenience of pensioners

In case of increase in Dearness Relief rate by the government, banks are also instructed to pay the updated DR to the pensioners accordingly. According to the Reserve Bank, banks are informed about the updated DR through mail, fax or email or from the official websites of the concerned government officials. Then this information is also conveyed to the bank branches.

Pensioners have the option of submitting life certificate through Jeevan Bima platform. However, this facility will be available only when the Pension Sanctioning Authority or Pension Acceptance Authority is also registered on this platform.

The Reserve Bank of India has directed banks to provide the facility of submitting life certificate from home to very senior citizens or pensioners who are above 70 years of age or who are suffering from any serious illness or are physically disabled.

According to the Reserve Bank, if the pensioner dies, then in this situation the family pension should be deposited in the same account. There is no need to open a separate new account for this. Banks have also been instructed not to force central government pensioners to open a new account if the spouse named as the recipient of the family pension in the pension payment order is still alive.

Banks have to deposit pension as per the instructions given by the pension payment authorities. If excess money is deposited in the account as pension amount, then in this situation RBI has told the banks that they should consult the concerned pension sanctioning authorities to recover the excess amount paid and if the mistake has been made by the bank, then the excess amount should be immediately returned to the government, so that there is no delay in recovery of excess payment from the pensioners.

RBI has made it mandatory to provide a signed acknowledgement to the pensioners on receipt of the life certificate.

According to RBI, in case of delay in pension payment, the responsible banks will have to compensate the pensioners for any delay in pension or outstanding payment. It is calculated at the rate of 8 percent per annum after the date on which the payment was to be made. This money should be automatically deposited in the pensioners' account without any claim.

According to the Reserve Bank of India (RBI), if due to physical illness the pensioners are unable to go to the bank or sign the documents, then in this situation the bank appoints one of its officers who is responsible for getting the cheque or withdrawal form signed in the presence of two witnesses.