Facility to submit life certificate at any branch of Union Bank of India pan India
Quick Grievance Redressal system
Acceptance of form 15(G)/15(H) at Branch
Availability of loan facility
Facility of viewing 10 months pension slip through Internet Banking
Frequently Asked Questions (FAQs)
Who is eligible to open a Pension Savings Account with Union Bank of India?
All employees of the central government and civil ministries covered under the Central Government Civil Pension Scheme, including Defence Employees, Railway Employees, Telecom Employees, and State Government Employees, are eligible to open a Pension Savings Account with Union Bank of India.
What are the benefits of having a Pension Savings Account with Union Bank of India?
The benefits of a Pension Savings Account with Union Bank of India include receiving a pension slip from the pension paying branch, SMS alerts for pension payments, annual pension statements from the branch, the facility to submit a life certificate at any branch of Union Bank of India pan India, quick grievance redressal system, acceptance of form 15(G)/15(H) at the branch, availability of loan facility, viewing 10 months pension slip through Internet Banking, and more.
What is the process to open a Pension Savings Account with Union Bank of India?
Before retirement, the employee needs to open an account with any branch of Union Bank of India and provide the account number to the department from which he/she retires. The employee needs to comply with KYC norms like PAN, Aadhaar Card, and Mobile number while opening the account. The account details need to be filled up in the pension papers, and the department prepares a Pension Payment Order (PPO) incorporating all details of the pensioner. The PPO is sent to the Centralized Pension Processing Cell (CPPC), Delhi, or the respective Nodal Branch in the case of railway. Pensioners need to fulfill initial formalities like submitting an undertaking, Life Certificate, Non-Employment Certificate, and Non-Marriage Certificate in case of family pension. PPOs received up to the 25th of the month are processed in the same month, while PPOs received on and after the 26th will be paid in the next month. Pension will be credited in the last 4 working days of the month.
How can pensioners submit their Life Certificate to Union Bank of India?
Pensioners can submit their Life Certificate physically to any branch of Union Bank of India or digitally throughhttps://jeevanpramaan.gov.in/ to enable the Bank to pay pension continuously.
How can a pensioner submit the Life Certificate?
The pensioner is required to submit his/her Life Certificate physically to any branch of Union Bank of India or digitally throughhttps://jeevanpramaan.gov.in/ to enable the Bank to pay the pension continuously.
When are the pensions credited to the account?
All PPOs received up to the 25th of the month are processed in the same month, and pensions are credited in the last 4 working days of the month. PPOs received on and after the 26th of the month will be paid in the next month.
What are the documents required to open a Pension Savings Account with Union Bank of India?
The documents required to open a Pension Savings Account with Union Bank of India include PAN card, Aadhaar Card, mobile number, and other KYC (Know Your Customer) norms as applicable.