The Pension Savings Accounts can be Single or Joint Bank Accounts. Pension is not permitted to be paid by cash, however, Standing Instructions may be accepted and chequebook may be issued.

• For prospective Pensioner's

This facility can be availed by opening a Pension Savings Bank Account with any authorised Axis Bank Branch and providing the Account details to the Pay & Accounts Office (PAO) of the concerned Central Govt. Civil Ministry/ Departments or Pension Sanctioning Authorities (PSA's) in case of Defence Units prior to retirement.

In case of existing Axis Bank customers, the details of the Saving Bank Account with the Bank need to be provided to the Pay & Accounts Office of the concerned Central Govt. Civil Ministry/ Department or Pension Sanctioning Authorities (PSA's) in case of Defence Units prior to retirement.

• For existing Pensioner's

This facility can be availed by opening a Pension Savings Bank Account with any authorised Axis Bank Branch and thereafter following the necessary procedures prescribed by CPAO (in case of Central Govt. Civil Ministries/ Departments) or Ministry of Defence for change of Bank for Pension Account for receiving/ drawing pension.