A government department will work with SBI to develop an integrated pension platform

21 Jun 2022 , 03:45 PM

According to an official statement released on Tuesday (21-06-2022), the Centre’s Department of Pension & Pensioners’ Welfare (DoPPW) will partner with the State Bank of India (SBI) to develop an integrated pension gateway to make life easier for retirees.

During the two-day bankers’ awareness event in Udaipur, Rajasthan, sessions on pension policy reforms and digitalization relating to the payment of pensions to central government retirees were held with the goal of educating the SBI field officials.

According to a statement from the Ministry of Personnel, Public Grievances and Pensions, special seminars on income tax issues affecting retirees as well as digital ways of presenting yearly life certificates were held. It was resolved that immediate steps be made to create an integrated pension portal by integrating the existing DoPPW and SBI platforms to provide seamless services to retirees, according to the statement.

Banks may market face authentication technology for digital life certificates widely, according to the statement. The use of digital life certificates and facial authentication technologies in the filing of life certificates would be a game-changer for pensioners and banks, according to the report.

The goal of improving retirees’ ease of life is projected to be realized to a large part through these programs, according to the statement. It was announced that four similar awareness programs will be held in partnership with the State Bank of India to reach the whole country.

In 2022-23, similar awareness programs will be held in partnership with other pension disbursing institutions, according to the statement.