As there is a lot of confusion in the system, the retired or soon to retire government employees have to run here and there to get back their earned money from the Government. There are several reasons for this, however the Centre is working to solve all these issues and the most recent example, which is set to get solved, is PENSION.
It will be great news for new or say future pensioners as the Centre is going to digitize the entire structure of pension payment system & this will take place very soon. In this new system, the Electronic Pension Payment Order or e-PPO will be given to the pensioners and full information of a pensioner's account would be easily shared between the Central Pension Accounting Office (CPAO), Pension & Accounts Office (PAO) and Banks.
Know the current system
In the current system, half of the pension work is done online and the remaining half is done manually. But after digitalising the system, pension fixation of retiring employees will be completed much faster that presently takes 2 - 3 months.
How it works?
Mr. HS Tiwari, the General Secretary of All India Account and Audit Committee said that according to the present scenario the pension of a retiree employee reaches his or her bank account after going through many places. And in the case of central government employees, the head office processes & sends it to the PAO, from where the pension papers go to the CPAO. After following all these methods, it is transferred to the bank, from where the bank transfers the amount.
How will be the new system?
According to available details, Electronic PPO or e-PPO will be sent to banks & pension software of the banks will be updated quickly. The manual PPO booklets will also be sent to the banks so that initial problems are avoided.
The recent order said that only the information given in the PPO booklet will be considered accurate & if any mistakes are found in the PDF files, the PPO booklet will be send for further procedures. It must be noted that a copy of this order has already been sent to all the banks in India.
