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

Loan Facility

Union Smile: Avail loan to meet short term financial requirements such as unforeseen medical expenses, timely payment of electricity bill, telephone bill, school fees, water charges, etc

Nodal Officer for Central Pension related issues/complaints

Vinod Kumar Sondhi
12th floor,Centralized Pension Processing Center(CPPC)
Union Bank Bhawan,239,Vidhan Bhawan Marg,Nariman Point,Mumbai-400021
Contact No: 022-22020242/22896678

Toll free number for Central Pension related queries and complaints-1800-2200-92