Pension

Pension

Q.1     From where the pension is to be disbursed after an employee has retired from Service or to the Family Pensioner, whose spouse has died in harness?
Ans.     On the Pension Payment Orders issued by the Accountant General, Punjab, the pension is to be disbursed by the Public Sector Banks,selected by the pensioner/ Family pensioner. The PPO will be sent to the Treasury Officer concerned, where the pensioner will inform to the Treasury from which bank he/she will draw pension.
Q.2      Can the PPO be transferred to another Branch of the same Bank?
Ans.     Yes.
Q.3      Can the PPO be transferred to another District?
Ans.     Yes.
Q. 4     Can the PPO is transferred to another State?
Ans.     Yes.
Q.5      What is the maximum percentage of pension that can be commuted?
Ans.     40%.
Q.6      What is the period of restoration of commutation of pension?
Ans.     15 years from the date of disbursement.
Q.7      How the family pension starts after the death of the pensioner?
Ans.     After the death of the pensioner, the member of the family entitled for family pension approach the Bank with the Original death Certificate of the pensioner. He/she has to give the application in the bank mentioning the death of his/her spouse and request for start of Family Pension.