Payment of Pensions Through DCS
On 06 January 2021, the Finance Division published a notification regarding the pension payments through Direct Credit System (DCS). In this notification, the government provided reference to some previous announcements and also talked about the salient features of DCS.
Here are some clarifications about the Payments through DSC in the reference of a letter published on 06 January 2016.
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- The pensioners will receive the pension through a bank account, current or PLS, on his own name.
- For the pension, the joint account will be invalid.
- The bank account mentioned for the pension is not mandatory only for the drawl of pensions.
- Government has discontinued some statements from the previous notifications such as notification on 14 July 2014.
In the reference of a letter on 28 September 2020, the government decided that for the retirees, a separate bank account is not necessary. However, they will start to receive the pensions on the date it falls due.
Features of the digital system
So, to facilitate the process, the federal government will launch an online system. The salient features of the system will be:
- The pensioner will verify their accounts through biometric every year in March and October. If he/she cannot go for biometric under special conditions, he will receive a life certificate having a sign of an authorized person every six months.
- If any person will not go for biometric verification or didn’t get a life certificate, his account will undergo the dormancy.
