Question
I want to change my Pension Savings Bank account from IOB branch xxx to SBI yyyr .I want to know procedure so that the change can be affected without disruption of credit of pension. I have tried calling cda p allahabad but in vain .Has sent number of mails and postal letter but no response. Kindly suggest and help .
Answer
Best is to avoid it. If you want to change the city, better to change to another branch of existing bank, where pension is drawn. For change of bank, the present bank has to send their original PPO copy to new bank. Only then the new bank will start pension. Whilst dealing with ESM at my previous tenure, I came across a large No of pensioners who were facing problems due to change of bank. The minimum time frame, if all goes well is about 3-4 months. Max - no upper limit. I had dealt with a case where SBI had sent original PPO to PNB. It got lost in transit. To raise a new PPO a lost certificate is required by CDA from the bank. In this case, SBI refused to give certificate as they said that they have already despatched it. And PNB refused as they said they never received and hence no loss on their side. It took a lot of pursuation, haggling and requests to get a new PPO. Took almost about an year. I have not narrated this to scare you, but you should know various scenarios
