The Reserve Bank of India (RBI) has clarified regarding the requirement of joint bank account for central government pensioner. RBI announced that a joint bank account held by a central government pensioner and their spouse can continue to be used even after the pensioner’s death. This is applicable only if the surviving spouse is authorized to receive the family pension.
The RBI clarified that banks should not require the spouse to open a new account to receive the family pension. Instead, the existing joint account should be used for the pension disbursement.
The RBI also addressed concerns regarding life certificates, which pensioners must submit annually to continue receiving their pensions. Many pensioners have reported delays in pension payments due to misplacement of life certificates by bank branches.
To prevent such issues, the RBI has directed banks to provide a signed acknowledgment when receiving life certificates. This will ensure transparency and timely processing of pension payments.