EOBI Pension ATM Card is now the only source of pension disbursement by Employees’ Old-age Benefits Institution (EOBI). This is an ATM card which entitles the holder to use it at any ATM facility centre for retrieval of pension disbursed by EOBI. It has made it easier for pensioners to recover their pension without having to line up in long queues for their due rights.
EOBI pension card activation is normally done through biometric verification. Once it is verified, the pensioner can receive the pension for six months, after which he has to go to the bank again for biometric verification. The pensioner can also visit any nearby shop which provides the facility of Telenor BVS Outlet wherein the card holder can verify himself. This is mostly available in large cities only.
There are some case where the pensioner’s biometric is not possible due to old age. The bank has the authority to verify the pensioner physically in such cases. Thenceforth, the pensioner receives a form where he provides his thumb impressions. Once the pensioner is verified, he can then receive his pension.
Duration of Biometric and Physical Verification
The pensioner, once verified, can retrieve his pension for six months. Afterwards, he has to provide his verification once again. Moreover, the validity of EOBI Pension ATM Card is five years. After this period ends, the pensioner can apply for new ATM card.
Importance of Verification
This process is very necessary for making sure that the EOBI fund is safe from misappropriation and fraud. If you have any suggestions or questions, you can comment in the comment section below.
How to Verify through Telenor BVS Outlet?
EOBI pensioners can do the biometric verification through any Telenor BVS Outlet. The pensioner has to visit the shop having the facility and perform the biometric verification through fingerprints. On successful verification, the pensioner will receive message for biometric verification.
How to Verify from Overseas?
The EOBI pensioners can also verify themselves from overseas through the facility provided by Telenor Overseas BVS. Click on the link for more details.