Bhavishya is Pension Sanction & Payment Tracking System
Q. What is ‘Bhavishya’?- Published on 28 Jun 16a. Pension Sanction and Payment Tracking System
b. New pension scheme for working population aged 21-40
c. New insurance policy by Government of India
d. None of the above
ANSWER: Pension Sanction and Payment Tracking System
- Department of P&PW has introduced an online Pension Sanction and Payment Tracking System called ‘BHAVISHYA’.
- Actions for timely payment of retirement dues and issue of Pension Payment Order (PPO) start one years before the date of retirement of the employee. There are a number of intervening stages and the system will pinpoint delays at each stage to enable timely interventions.
- The tracking can be done by the retiring employee as well as the administrative authorities.
- In addition, forms required during the process are available in electronic format. The retiring employee can fill the forms online. It facilitates the administrative authorities by processing the claims and passing on the calculated amounts and other details to the Pay and Accounts Offices.
- The new system will also capture personal information, service data and contact details like mobile number and e-mail etc. The retiring employees will be kept informed of the progress of pension sanction process through SMS/E-mail.
