In our country the spectacle of hundreds of aged citizens, both men and women, queued in and outside bank branches to collect their pensions is not rare. These old men and women deserve respect, dignity and comfort after their extended services to the country. Instead, they are made to wait, often in unfavourable weather conditions, to collect their meagre source of sustenance.
In short, the conventional modes of pension disbursal are exceedingly inconvenient, time-consuming and full of hassle. Old pensioners have to arrive at bank branches hours before office hours in order to stand ahead in the long queues to secure their pensions. The excruciating wait is often extended due to systemic glitches and red tapes, adding to the distress of the senior citizens queued in and outside bank branches.
Gladly, the groundbreaking innovations in digital technology have opened up new opportunities to simplify lives and usher in ease. Besides transforming our daily lives, it has enabled institutions to overhaul their decades-old conventional methods and induce efficacy and productivity into their systems. Banking and finance especially have witnessed added efficiency due to electronic transactions. Digital technology has saved us a lot of time, energy and focus, which can be invested in other ways to create value.
With the latest innovation in digital technology in place, the woes of pensioners also seem to be answered. A sophisticated and technology-enabled system will deliver their pensions with ease and convenience, eliminating the need to regularly visit bank branches and stand in queues for hours. Through the convenient digital mechanism of pension disbursement, we can ensure that our senior citizens receive the convenience, respect and dignity, and also find peace after their long service to the nation.
Bank Alfalah and Employees Old Age Benefits Institution (EOBI) are taking the lead in this regard. After winning the contract for disbursal of pensions to thousands of EOBI pensioners with ease and convenience, Bank Alfalah is bringing in cutting-edge digital technology to address the long existent issue of delays and tribulation. The bank has already begun the registration of retired EOBI pensioners across the country to shift pension disbursals onto the digital system. Once the employees are registered with the bank, they are issued a debit card and receive their pensions in their personal digital wallets. They can use the debit card to withdraw their pension at their nearest ATM. The Digital Wallet for EOBI pensions enables them to keep their pensions in their account, rather than withdrawing the entire amount in a single go.
The registration process has been simplified to be completed in five minutes and in a single visit to a Bank Alfalah branch. With the system already in place, the pensioners now have access to more than 10,000 ATMs across the country as opposed to a limited network of bank branches that had been designated in the previous system. The registration process is in full swing and thousands of pensioners are getting registered. It is aimed at serving more than 390,000 pensioners with an annual addition of more than 30,000.
As a society, it is high time we give back to our pensioners. We are benefitting from the system and institutions built and nurtured by them for years. As serving professionals who witness the pensioners suffering after long years of service, the least we can do is to allow them little peace of mind and heart.
Comments
Comments are closed.