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Home >Money >Personal Finance >7th pay commission latest news: Banks to issue pension slip via SMS, email

7th pay commission latest news: While central government pensioners are eagerly waiting for their Dearness Relief (DR) benefit restoration from 1st July 2021 and a positive outcome from the meeting on 26th June 2021 over the DA and DR arrears payment, there is a piece of good news for the retired central government employees. In a bid to ensure 'Ease of Living' for near 60 lakh pensioners, the central government has directed the pension disbursing banks to issue pension slip to the pensioners with complete break up. The center has also asked the banks to issue pension slip via SMS on the registered mobile number of the pensioners. Banks are also advised to issue pension slip on the given email ID of the pensioner and if needed, they can use social media platforms like WhatsApp, etc. as well.

This move by the central government will enable central government retired employees to know the various 7th pay commission perks, especially DR and DR arrears. They pension slip will simplify pensioners' income tax compliance as well. Sensing the above-mentioned benefits to a pensioner after having a pension slip with complete break up, the pension disbursing banks have welcomed the central government's move.

The Department of Pension and Pensioners’ Welfare issued Office Memorandum (OM) in this regard citing, "In order to ensure "Ease of Living' of the Pensioners, a meeting was held with the CPPCs of Pension Disbursing Banks on 15.06.2021, wherein the issue of providing the breakup of monthly pension to the pensioners was discussed. The banks were impressed upon to undertake this welfare measure, as this information is required by pensioners in connection with Income Tax, Dearness Relief payment, DR arrears etc. The banks welcomed the idea and expressed their willingness to provide the information."

The Office Memorandum of the Department of Pension and Pensioners’ Welfare further added, "Accordingly, the undersigned is directed to request all Pension Disbursing Banks to issue pension slip to pensioners after credit of pension on their registered mobile numbers through SMS and email (wherever available) also. Banks may also use social media apps WhatsApp etc in addition to SMS and email. The pension slip should provide complete details of monthly pension paid along with break-up of the amount credited and tax deductions etc. if any."

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