SBP ex-employees seek revocation of pension circular

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Khudayar Mohla –

ISLAMABAD, (TLTP): Retired employees of central bank of Pakistan from twin cities of Rawalpindi and Islamabad Friday urged the governor State Bank of Pakistan (SBP) to revoke circular that precluded them from receiving pension from the central bank.

Under the pretext of present outbreak of coronavirus on May 06, the SBP has issued a circular saying pension to its ex-employees would be paid through scheduled bank accounts only from  June 2020 whereas May 2020 would be the last month to receive pension through payment orders from central bank.

Central bank’ retired employees have also been asked to open single member pension bank accounts by 18th June with scheduled  banks till June 18, 2020 .

Seeking immediate attention of Governor SBP Dr Reza Baqir, retired employees welfare association Rawalpindi-Islamabad Muhammad Amin Qureshi and other office bearers urged to revoke the circular on various grounds saying a significant number of widows and other female family pensioners are Senior Citizens generally weak and vulnerable.

“All over the world these elderly and gender sensitive family pensioners are given respect with sympathy and provided due facilities by the States and Institutions whereas an extraordinary example in this regard has recently been set by the Government of Pakistan when the pension amount was delivered to the Pensioners at their homes to avoid threats of COVID–19”, they pointed out.

President of the association said that the SBP/BSC pensioners being Senior Citizens expect the similar compassionate and caring treatment from their parent Institution, adding it is universal practice that the facility once granted can be improved but cannot be withdrawn.

They further claimed that the SBP/BSC pensioners having served their institution for 25 to 40 years could never expect that despite presence of a settled policy saying they would be thrown upon the mercy of commercial banks where there will have to face several problems as they will have to pay bank charges on each transaction whether it is cash withdrawal, ATM operation or fund transfer.

“Most of the Pensioners do not have the Bank Account nor do they intend to do so because of multifarious complications, requirements and different charges such as deduction of cost of cheque book, ATM annual fee, and other charges of the bank as per their policy, deduction of Zakat and fate of their deposit in case of Bankruptcy ” they said.

They also alleged that commercial banks usually disburse infected and mutilated currency notes which are hardly acceptable in the market which would be another problem, adding there have been several cases of robbery outside ATMs and recurrence of such instances cannot be overlooked. In such a case there is no compensation or protection to the life and money of pensioner.

“In view of the foregoing submissions it is requested that at this old age, SBP pensioners may very kindly be treated sympathetically and they may not be burdened with extra expenses and may not be given physical torture of wandering in commercial Banks – The existing Policy of payment through SBP BSC offices may be continued and payment of Pension be remained optional”, they concluded.

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