Section 17 in State Bank of India Employees Pension Fund Regulations, 2014
17. Accrual of pension.
- The pensions shall begin to accrue on the first day succeeding that of retirement and shall be payable monthly to the beneficiary personally or to his order when supported by a life certificate bearing his signature and attested by a Magistrate or Banker.Explanation. - For the purposes of this regulation, the expressions-(a)"Magistrate" includes the Judicial Magistrate or Executive Magistrate;(b)"Banker" includes any officer of the Bank.
