Dear Retirees
Regarding Bank Retirees Savings Bank account, normally the spouse name will be made as a joint account holder under E or S Scheme.
In addition to this, a nominee name should be provided compulsorily.
The reason is that,
A is the Retiree and B is his wife.
The account is in the name of A and B jointly under E or S.
No nomination was given to this account.
Now due to health problem A died. So B will be the solo account holder and she will get family pension.
Now only the problem starts from here.
For A the management wants to give some arrears due to some wage revision. As A is not alive, you all may think the amount will be credited to B account. It is not so.
The reality is that any deceased pensioner’s arrears will be paid only to the nominee and not to the spouse.
Further, if nomination is not registered, then the Legal Hair alone can claim the arrears.
This is a very cumbersome procedure.
To avoid such problems, it is better to give the nomination.
Hence we hereby request you all to verify your account that whether the spouse name is there as a joint holder and the nominee name is given?
In case if the nomination is not registered, then the family pensioner cannot claim the arrears since she has no right.
We hereby request you all to take this message as an important one and act accordingly.