KATHMANDU, April 11: The Automated Pension Verification System was implemented from Friday, aiming to make pension-related services more simplified, accessible, citizen-friendly and technology-friendly.
Finance Minister Dr Swarnim Wagle marked the launch of the e-pension verification system prepared by the Financial Comptroller General's Office.
Revised interest rate corridor system introduced
With the introduction of the e-pension verification system, pensioners can receive pension-related services virtually.
Previously, pension recipients had to visit banks in person every year to confirm that they were receiving pensions from the state coffer.
Likewise, they no longer have to visit the Pension Management Office to open a bank account or select a preferred bank. With the new provision in place, service recipients can choose their preferred bank based on convenience.
On the occasion, Minister Dr Wagle said that the new system has ended hassles for service recipients.
The complex process will now end, and the bank commission paid to banks will also be significantly reduced, the Finance Minister said.
