Dearness Relief Payable to Bank Pensioners for the Period August 2017 to January 2018
Indian Banks Association
HR & INDUSTRIAL RELATIONS
No.CIR/HR&IR/D/G2/2017-18/3314
August 1,2017
Designated Officers of all Member Banks
Which are parties to the Bipartite Settlement on Pension
Dear Sir,
Dearness Relief Payable to Pensioners for the Period August 2017 to January 2018
The confirmed all India average consumer price index numbers for industrial workers (Base 1960=100) for the quarter ended June,2017 are as follows:-
April 2017 – 6322.77
May 2017 – 6345.60
June 2017 – 6391.25
In terms of Regulation 37 of Bank Employees Pension Regulations, 1995 Dearness Relief is payable to pensioners at rates specified in Appendix II to the Regulations.
Pending amendments to pension Regulations, Banks may pay on ad hoc basis, the Dearness Relief payable to pensioners for the period August 2017 to January 2018 as per Annexure.
Yours faithfully,
S K Kakkar
Senior Advisor
PART- I
| Dearness Relief to pensioners who retired on or after 1st day of January,1986, but before the 1st day of November,1992/1st July, 1993 |
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| BASIC PENSION |
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| (i) | Upto Rs.1250 | 963.46 per cent. | ||||||
| (ii) | Rs.1251 to Rs.2000 | Rs. 12043.25 plus 790.90 percent of basic pension in excess of Rs.1250.00 |
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| (iii) | Rs.2001 to Rs.2130 | Rs. 17975.00 plus 474.54 percent of basic pension in excess of Rs.2000.00 |
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| (iv) | Above Rs.2130 | Rs. 18591 .90 plus 244.46 percent of basic pension in excess of Rs.2130.00 |
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PART- II
| Dearness Relief to pensioners who retired on or after 1st day of November,1992/1st July, 1993 |
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| BASIC PENSION |
|
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| (i) | Upto Rs.2400 | 455.35 per cent. | ||||||
| (ii) | Rs.2401 to Rs.3850 | Rs. 10923.40 plus 377.29 percent of basic pension in excess of Rs.2400.00 |
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| (iii) | Rs.3851 to Rs.4100 | Rs. 15399.10 plus 221.17 percent of basic pension in excess of Rs.3850.00 |
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| (iv) | Above Rs.4100 | Rs. 16952.02 plus 117.09 percent of basic pension in excess of Rs.4100.00 |
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PART- III
|
Dearness Relief to pensioners who retired on or
after 1st day of April,1998. |
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| BASIC PENSION |
|
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| (i) | Upto Rs.3550 | 280.08 per cent. | ||||||
| (ii) | (ii) Rs.3551 to Rs.5650 | Rs. 9942.84 plus 233.40 percent of basic pension in excess of Rs.3550.00 |
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| (iii) | (iii) Rs.5651 to Rs.6010 | Rs. 14844.24 plus 140.04 percent of basic pension in excess of Rs.5650.00 |
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| (iv) | (iv) Above Rs.6010 | Rs. 15348.38 plus 70.02 percent of basic pension in excess of Rs.6010.00 |
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PART-IV
|
Dearness Relief to pensioners who retired on or
after 1st day of November, 2002. |
|
| Average Index (CPI) for quarter ended June 2017 | 6353 |
| No. of Slabs | 1016 |
| Rate of dearness relief on pension for the months August 2017 to January 2018 |
182.88 % of basic pension |
| (ignore decimals from 3rd place onwards) | |
PART-V
|
Dearness Relief to pensioners who retired on or
after 1st day of November, 2007. |
|
| Average Index (CPI) for quarter ended June 2017 | 6353 |
| No. of Slabs | 879 |
| Rate of dearness relief on pension for the months August 2017 to January 2018 |
131.85 % of basic pension |
| (ignore decimals from 3rd place onwards) | |
PART-VI
|
Dearness Relief to pensioners who retired on or
after 1st day of November, 2012. |
|
| Average Index (CPI) for quarter ended June 2017 | 6353 |
| No. of Slabs | 478 |
| Rate of dearness relief on pension for the months August 2017 to January 2018 |
47.80 % of basic pension |
| (ignore decimals from 3rd place onwards) | |
Source: IBA.org [Click to get PDF]
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