Finance Minister Dr Swarnim Wagle has launched an e-pension verification system, enabling pensioners to renew their pensions online.

The system, developed by the Office of the Comptroller and Auditor General, was unveiled at a program held at the Ministry of Finance on Friday.

With the introduction of the online service, the long-standing hassle faced by around 350,000 pensioners has been eliminated. Pensioners will no longer need to go through the process of physical renewal or bank selection.

Officials also expect the move to reduce government expenditure on bank commissions to nearly zero. According to data, there are 352,816 pensioners under the scheme, including around 44,000 currently inactive.