Pension Payment with E-Pension Management System

Myanma Economic Bank has operated pension payment to the government pensioners since 1.10.1972.

Aiming at providing quick and easy pension payment to pensioners at any time, pension payment with E-pension System using IT Technology has been launched from August, 2012.

Now, there are currently the following (302) branches operating pension payment with E-pension System-

• District branch (74)
• Township branch (213)
• Treasury branch (15)

                 Total        302

In branch, Pensioners are required to get E-Pension Card the following facts:

• Pensioner’s Photo
• Pensioner’s finger print
• Pensioner’s Signature
• Card Fee 3500 ks

It is available for pensioners to use account transfer method by giving standing instruction to bank 200ks for service charge.  Hence, there is no need to visit to bank monthly. The pension can be transferred to the followings:

• Current A/C
• Savings A/C
• Myanmar Mobile Money (MMM)
• ATM
• MPT Money
• Wave Money
• Mytel Pay

The pensioners are required for personal verification every six months. However, the pensioners entitled to Family Pension withdrawing through MMM, MPT Money, Wave Money, Mytel Pay are required for personal verification every three months.

It is beneficial to pensioners by withdrawing pension with E-Pension System that it can be withdrawn on any bank opening day, with preferable account transfer methods without requiring the pensioners to visit to bank twice a month, to stand in a queue and wait for withdrawal of pension at bank.