National Bank of Pakistan’s clarification regarding payment of pension

Karachi, August 25, 2015 (PPI-OT): The news item that was published in various newspapers on Aug. 19, 2015, quoted National Bank of Pakistan (NBP) on the reduction in no. of pensioners. The articles have used language of “Ghost Pensioners” which was not mentioned by NBP officials and neither was any amount given. To clarify, NBP initiated automation of its pension system in 2012 and adopted/ introduced new procedure for processing pension payments of the pensioners as per bank system requirement.

NBP while disbursing the pensions to pensioners throughout the period have disbursed pensions only to verified pensioners. The impression given in the article that there were people who received pensions were not genuine, is incorrect. What NBP described was that prior to 2012, we were servicing 2.1 million plus pensioners that reduced to 1.629 million in 2015. The reduction of pensioners serviced by NBP could be attributed to change brought about by the Supreme Court ruling in 2013 which authorized to pay pensions through other commercial banks.

As such, during conversion over the period, the no. of pensioners reduced and reasons could be multiple, including: (a) same pensioner moving to other commercial banks; (b) pensioners who could not fulfil the standardization requirements that NBP had put in place to identify pensioners; (c) pensioners whose pensions may been stopped by their respective organizations; and (d) pensioners who may have opted for other institutions including post offices or district treasury offices.

Overall, this lead to reduction in the number of pensioners over the period from 2.1 million plus in 2012, to 1.43 million in 2014. On the same basis, the no. of pensioners increased to 1.629 million as of June 2015, due to transfer of pensioners from other banks/ institutions to NBP.

For more information, contact:
Syed Ibne Hassan
Vice President / Divisional Head (A)
National Bank of Pakistan (NBP)
Corporate Communication and Brand Management Division
Head Office, NBP Building, I.I. Chundrigar Road,
Karachi, Pakistan
Tel: +92-21-99220773
Cell: +92-300-8202184
Fax: +92-21-99212734