Q. With reference to the Centralized Pension Payment System (CPPS), consider the following statements:
1.It provides a unified system that allows pension payments to be made through any bank or branch in India.
2.It requires pensioners to transfer their Pension Payment Orders (PPO) when changing locations.
Which of the statement(s) given above is/are correct?
Answer: A
Notes:
Explanation –
Statement 1 is correct. The CPPS is designed to provide a national-level centralized system that allows pension payouts through any bank or branch in India. This initiative is part of the modernization efforts for the Employees’ Pension Scheme, enabling pensioners to receive their pensions from any bank, any branch, anywhere in the country.
Statement 2 is incorrect. One of the key features of the CPPS is that it eliminates the need for pensioners to transfer their Pension Payment Orders (PPO) when they relocate or change banks or branches. The system ensures uninterrupted pension delivery across India without the need for such transfers.
Source: AIR
