Axis Bank’s Pension Savings Account is designed to suit the banking needs of pensioners. If you are eligible for the Savings Account all you need to do is submit the application form along with the necessary documents and avail the many benefits of the account once it is opened.
Here are the Pension Savings Account eligibility criteria:
Individuals eligible for Pension Savings Account
- Employees of Central Government and civil ministries who are covered under the Central Government Civil Pension Scheme operated by Central Pension Accounting Office, Department of Expenditure and Ministry of Finance.
- Employees of the armed forces (Army, Navy and Air Force) under Ministry of Defense who are covered under the Defense Pension Scheme operated by Pension Sanctioning Authority/Defence Unit.
- Employees of an establishment with a workforce strength of more than 20 (including contract employees), who have opted to be members of the EPS 95 scheme.
- Existing members of 'Member of Employees' Family Pension Scheme.
Documents required for pension savings account
You will have to submit certain documents along with your Pension Savings Account application. You can either open a joint Pension Savings Account or a single holder account.
Here are the documents for Pension Savings Account that will have to accompany the Savings Account application:
Keep your documents ready
- Two latest passport size photographs
Address and identity proof documents.For a full list of address and identity proof documents, click here
- Only a single copy of the document is required if it is listed under both address and identity proof, e.g. Passport/Aadhaar Card
- If your mailing address and permanent address are different, provide address proof documents for both