The Pension Savings account is specifically, designed for Pensioner’s keeping in mind the fact that banking requirements of a pensioner are totally different and requires special attention.
All of the below individuals are eligible to open a Pension Savings Account with Union Bank of India.

• All employees of central government and civil ministries who are covered under the Central Government Civil Pension Scheme operated by Central Pension Accounting Office (CPAO) , Department of Expenditure and Ministry of Finance.
• Defence Employees.
• Railway Employees.
• Telecom Employees.
• State Government employees.

The Pension Savings Accounts can be Single or Joint Bank Accounts (with Spouse).

Benefits

• Pension slip from the pension paying branch.
• SMS alert on mobile phone for pension payment.
• Annual statement of pension from branch.
• 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: Union Cash and Smile loan for the financial needs of pensioners.  
• Facility of viewing 10 months pension slip through Internet Banking.

Process:

• Before retirement, the employee has to open account with any branch of Union Bank of India and has to provide the account number to the Department from which he/she retires.
• While opening account, employee has to comply with the KYC norms like PAN, Aadhaar Card, Mobile number etc.
• He/she has to fill up the account details in the pension papers.
• Department prepare Pension Payment Orders (PPO)where all details of the pensioners including the Account Details, PAN number, Aadhaar number are incorporated.
• The PPO is sent to the Centralized Pension Processing Cell (CPPC), Mumbai except in case of Railway where it is send to the respective Nodal Branch.
• Pensioners have to fulfill the initial formalities like submitting undertaking, Life Certificate, Non –Employment Certificate and Non- marriage Certificate in case of family pension.
• All PPOs received up to 25th of the month are processed in the same month while PPOs received on and after 26 will be paid in the next month.
• Pension will be credited in the last 4 working days of the month.

Submission of Life Certificate
The pensioner is required to submit his/ her life certificate physically to any branch of Union Bank of India or digitally through https://jeevanpramaan.gov.in/ to enable the Bank to pay pension continuously

Union Cash: To meet personal expenses including medical treatment, travel etc of the pensioners /family pensioners. Eligibility of 12 times of monthly net pension subject to terms and conditions.

Nodal Officer for Central Pension related issues/complaints

Chief Manager
Central Pension Processing Centre
Union Bank Of India
S-24, 2nd Floor,
Sri Aurobindo Marg
Block-A, Green Park Extension
Green Park, New Delhi- 110016
Contact No: 011-42268378
cppc@unionbankofindia.bank
Toll free number for Central Pension related queries and complaints-1800-2200-92