An MoU was signed on Monday between the State Bank of India (SBI) and the Berhampur University to facilitate pension automation for retired employees of the university.
The SBI would take over the PPOs of 1,200 retired employees of the university for managing the pension portfolio of the university through the bank’s Centralised Pension Processing Cell (CPPC), Bhubaneswar.
The move would free the university’s office from the non-core activity of maintenance of pension files, calculation of monthly pension and arrears, deduction of tax and filing of tax returns, etc. Besides, it would benefit the pensioners to enjoy various banking facilities including pension loan and submission of life Certificate at any SBI branch located in every nook and corner of the country.
On this occasion, five senior most pensioners of the university were felicitated on behalf of the SBI by local MlA Pradeep Panigrahy in the presence of Vice-Chancellor Dr Rajendra Prasad Dash and SBI CGM BVG Reddy.
The initiative is the second of its kind in the State after the Utkal University shifted the pension to the SBI last month.