- 19-Jul-2025
- Marriage and Divorce Laws
For many senior citizens, pensions are their primary or sole source of income. Unfortunately, some elders face financial exploitation from those they trust most, such as caregivers or family members. Misuse can happen through joint accounts, unauthorized withdrawals, or pressure to hand over ATM cards or credentials. To maintain financial safety and independence, elders must adopt both legal and practical safeguards.
Avoid joint accounts unless absolutely necessary. Prefer single-holder accounts with trusted nominees, which prevent others from accessing funds without consent.
Nominate a responsible individual for the pension account. Nomination does not grant control during the elder's lifetime but helps in seamless fund transfer after death.
If assistance is needed, grant a limited PoA outlining specific permissions (e.g., withdrawing pension only) rather than a general one. This reduces the chance of misuse.
Use biometric verification for pension withdrawals (e.g., Jeevan Pramaan) to avoid PIN sharing or ATM card misuse.
Enable SMS and email alerts for all bank activities to monitor withdrawals in real time.
Do not share ATM PINs, UPI codes, or passwords—even with close relatives. Use biometric locks on financial apps.
Keep a dedicated pension account and transfer only limited amounts to any joint or shared account for monthly expenses.
Personally visit the bank for changes like mobile number updates or re-issuance of debit cards to prevent fraud by intermediaries.
Under the Maintenance and Welfare of Parents and Senior Citizens Act, a legal guardian can be appointed through court to manage finances responsibly.
Consult with legal or financial advisors to periodically assess account safety, especially if there are signs of manipulation or pressure.
File an FIR under IPC Sections like 406 (criminal breach of trust), 420 (cheating), or 379 (theft) in case of unauthorized pension withdrawals.
If funds were withdrawn fraudulently, contact the bank's branch manager and escalate to the ombudsman if unresolved.
File a complaint before the Maintenance Tribunal for protection of property or pension from misuse by legal heirs or others.
Report any digital or UPI-based fraud at cybercrime.gov.in or by visiting the local cyber cell.
Free legal assistance is available for senior citizens through DLSA, especially for recovering misused pension or property.
A retired teacher receives ₹25,000 monthly pension in a joint account with her son. She notices that large sums are being withdrawn without her knowledge. When questioned, the son claims it's for family expenses.
Visit the bank and request to convert the account into a single-holder account.
File a complaint with the branch manager for unauthorized withdrawals.
Register an FIR for financial abuse under relevant IPC sections if funds are misappropriated.
Approach the Maintenance Tribunal seeking protection and monthly maintenance.
Switch to using a biometric pension verification method like Jeevan Pramaan.
Educate herself on financial safety or consult a legal aid clinic through DLSA.
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