Context:
Department of Pension & Pensioners’ Welfare (DOPPW) introduced a unique innovative centralized pension processing software called ‘Bhavishya’ for all central government Ministries/Departments
Relevance:
Facts for Prelims
Bhavishya Software:
- Bhavishya Software serves as an online system for sanctioning and tracking pension payments, developed by the Department of Pension & Pensioners’ Welfare.
- As of January 1, 2017, its use has been mandated across all central civil ministries and departments.
- Launched to tackle delays and clerical mistakes in pension processing that cause financial losses and grievances among retirees.
Key Features of Bhavishya Software:
- Directly integrates with payroll systems to automatically capture and populate essential data of employees nearing retirement, enhancing the management information system (MIS) across departments.
- Implements stringent deadlines for each pension processing phase to ensure timely operations.
- Proactively issues alerts to both pensioners and stakeholders to adhere to set timelines.
- Ensures clear visibility and accountability in the pension processing workflow, simplifying identification and resolution of delays.
- Electronic Pension Payment Order (e-PPO): Integrated with the Public Financial Management System (PFMS) for seamless electronic processing and distribution of pension payments through the Central Pension Accounting Office (CGA) to banks.
