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)
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