Govt minimises commercial banks' role in pension payments
ISLAMABAD: The finance ministry on Monday eliminated the administrative role of commercial banks in the biometric verification and validation of proof-of-life certificates (PoLCs), in a move aimed at facilitating pensioners. The government also directed that pensioners’ bank accounts would not be subject to account dormancy requirements. The Ministry of Finance issued revised standard operating…
The finance ministry has reduced the role of commercial banks in pension payments, focusing on simplifying the process for pensioners. The government has eliminated banks' administrative role in biometric verification and validation of proof-of-life certificates. Pensioners' bank accounts will no longer be subject to dormancy requirements.
The National Database and Registration Authority (Nadra) will be integrated with the Controller General of Accounts (CGA) and Military Accountant General (MAG) via a secure API. Nadra will transmit digital life signals directly to CGA/MAG, bypassing commercial banking channels. Commercial banks will serve only as pension disbursement agencies.
No pension-disbursing account will be rendered dormant for processing or disbursing pension payments. The physical "Disburser’s Half" process has been abolished, and pension payments will be made exclusively through the Direct Credit System (DCS). Pensioners can verify their PoLCs through the Nadra PakID mobile app or authorized Nadra channels at least once every six months.
If unable to use digital methods, pensioners can submit a manual life certificate at designated District Accounts Offices or Pension Facilitation Centres.
Written by urgent.news from Dawn's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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