Canara Bank
Commutation restore

Dear Sir,

I am an EX Naval person. My pension is credited to the pension account 1908101004001`at Canara Bank Melady branch at Kerala. I contacted the branch for restoration of commutation amount of pension. They have intimated that it will be done automatically.

After contacting the CPPC section of Canara Bank Bangalore through telephone they have intimated that my commutation has restored in Sep 2011 and other balance amount will be restored in 2013 as I got the arrears of commutation value in April 1998. But I am not able to understand the calculation. When I informed them my commutation value is calculated as per age and basic date as July 1996, they refused to talk further.

As per PCDA (Pensions) a commuted value of pension is calculated on the basis of age on next birthday, which falls after the date on which the commutation becomes absolute. My absolute date of Commutation is 01/08/1996 as per the pension payment order.

The corrigendum PPO is only an amendment to my pension and commutation amount based on the date of retirement as effected by the pay commission. Hence my commutation should be restored as on 01/08.

It is observed that when we contact branch office at Melady they says all the pension matters are dealt with CPP section and they do not have any records or authority to do so. When asked about the CPP section details neither they have telephone number and email id.

I have taken the Bangalore telephone number through web site and finally after so many queries I am able to reach the CPP section. It is also understood that CPP section is made to fast up the pension matter and in practical it is experienced very much delay and no proper information is available to the customer in branch or contact details in the bank website.

Kindly do the needful

Thanks and Regards

D Dinesh Babu

Mobile number 919760755024

Email: ddb.dinesh@gmail.com

Company: Canara Bank
Country: India

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