Apply
Now
Pension Disbursement
Axis Bank offers Pension Disbursement Services as part of its government business solutions, helping the Central Government and its departments manage their pension payments with ease. Axis Bank has been authorised by RBI and Central Pension Accounting Office (CPAO) for pension disbursement through its 218 authorised branches across the country. Axis Bank provides central civil pension disbursement, defence pension disbursement and other pension disbursement services such as telecom pension. You can get an overview of Axis Bank’s Pension Disbursement Services below.
-
Central Civil Pension Disbursement
The Bank is authorised by RBI and Central Pension Accounting Office (CPAO) for disbursement of Central Civil Pension through its 218 authorised branches across the country.
The details towards availing Pension Disbursement Facility from Axis Bank is as under:
- For existing Pensioners of Central Govt. Departments and Ministries - This facility can be availed by opening a Pension Payment Savings Bank Account with any authorised Axis Bank Branch and thereafter following the necessary procedures prescribed by CPAO for change of Bank for Pension Account for receiving or drawing pension.
- For prospective Pensioners of Central Govt. Departments and Ministries - This facility can be availed by opening a Pension Payment Savings Bank Account with any authorised Axis Bank Branch and providing the Account details to the Pay and Accounts Office (PAO) of the concerned Department or Ministry prior to retirement. In case of existing Axis Bank customers, the details of the Saving Bank Account with the Bank need to be provided to the Pay and Accounts Office of the concerned Department or Ministry prior to retirement.
Defence Pension Disbursement
The Bank is authorised by RBI and Ministry of Defence for disbursement of Pension to Armed Force (Army, Navy and Air Force) personnel through its 151 authorised branches across the country.
The details towards availing Pension Disbursement Facility from Axis Bank is as under:
- For existing Pensioners of Defence Departments and Ministries - This facility can be availed by opening a Pension Payment Savings Bank Account with any authorised Axis Bank Branch and thereafter following the necessary procedures prescribed by Ministry of Defence for change of Bank for Pension Account for receiving or drawing pension.
- For prospective Pensioners of Defence Departments and Ministries - This facility can be availed by opening a Pension Payment Savings Bank Account with any authorised Axis Bank Branch and providing the Account details to the concerned Pension Sanctioning Authority or Defence Unit prior to retirement. In case of existing Axis Bank customers, the details of the Saving Bank Account with the Bank need to be provided to the Pension Sanctioning Authorities (PSAs) of the concerned Defence Unit prior to retirement.
Other Pension Disbursement
The Bank has also received the authorisation from RBI and Ministry of Communications and Information Technology for disbursement of Telecom Pension through its 192 authorised Branches across the country and which shall commence shortly.