Increase in Dearness Relief for Bank Pensioners from February 2016

Increase in Dearness Relief for Bank Pensioners from February 2016

Increase in Dearness Relief for Bank Pensioners for the period from February 2016 to April 2016
Indian Banks’ Association has announced increase in Dearness Relief for Bank Pensioners for the period from February 2016 to April 2016

Indian Banks’ Association

HR & INDUSTRIAL RELATIONS

No.CIR/HR&IR/D/G2/2015-16/2013

January 30, 2016

Designated Officers of all Member Banks which are parties to the Bipartite Settlement on Pension

Dear Sirs,

Dearness Relief payable to Pensioners for the period February to July, 2016

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended December, 2015 are as follows:-

Oct 2015

6140.17

Nov 2015

6162.99

Dec 2015

6140.17

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 February 2016 to July 2016 as per Annexure.

K S Chauhan

Senior Vice President

Annexure to Circular No.CIR/HR&IR/D/G2/2015-16/20l3 dated January 30, 2016

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

BASIC PENSION

Dearness relief for the months February to July 2016 Average Index

Slabs

1386

6147

(i)

Upto Rs.1250

928.62 %

(ii)

Rs.1251 to Rs.2000

Rs.11607.75 plus 762.30% of basic pension in excess of Rs.1250.00

(iii)

Rs.2001 to Rs.2130

Rs.17325 plus Rs.457.38 % of basic pension in excess of Rs.2000.00

(iv)

Above Rs.2130

Rs.17919.59 plus 235.62 % of basic pension in excess of Rs.2130.00

PART- II

Dearness Relief to pensioners who retired on or after 1st day of November,1992/1st July, 1993

BASIC PENSION

Dearness relief for the months February to July 2016 Average Index

Slabs

1386

6147

(i)

Upto Rs.2400

437.15 %

(ii)

Rs.2401 to Rs.3850

Rs.10491.60 plus 362.21% of basic pension in excess of Rs.2400.00

(iii)

Rs.3851 to Rs.4100

Rs.15743.64 plus Rs.212.33 % of basic pension in excess of Rs.3850.00

(iv)

Above Rs.4100

Rs.16274.46 plus 112.41 % of basic pension in excess of Rs.4100.00

PART- III

Dearness Relief to pensioners who retired on or after 1st day of April, 1998

BASIC PENSION

Dearness relief for the months February to July 2016 Average Index

Slabs

1386

6147

(i)

Upto Rs.3550

267.60 %

(ii)

Rs.3551 to Rs.5650

Rs.9499.80 plus 223.00% of basic pension in excess of Rs.3650.00

(iii)

Rs.5651 to Rs.6010

Rs.14182.8 plus Rs.133.80 % of basic pension in excess of Rs.5650.00

(iv)

Above Rs.6010

Rs.14664.48 plus 66.90 % of basic pension in excess of Rs.6010.00

PART-IV

Dearness Relief to pensioners who retired on or after 1st day of November, 2002.
Average Index (CPI) for quarter ended December 2015 – 6147

No. of Slabs – 964

Rate of dearness relief on pension for the months – 173.52 % of basic pension

February to July 2016

PART-V

Dearness Relief to pensioners who retired on or after 1st day of November, 2007.
Average Index (CPI) for quarter ended December 2015 – 6147

No. of Slabs – 827

Rate of dearness relief on pension for the months pension – 173.52 % of basic pension

February to July 2016

PART-VI

Dearness Relief to pensioners who retired on or after 1st day of November, 2012.
Average Index (CPI) for quarter ended December 2015 – 6147

No. of Slabs – 426

Rate of dearness relief on pension for the months pension 42.60 % of basic pension

February to July 2016

(ignore decimals from 3rd place onwards)

READ: Details of Nodal Officers of respective PSA – OROP Pension Discrepancies

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