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Dearness Relief payable to Pensioners for the period August 2017 to January 2018

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Dearness Relief payable to Pensioners for the period August 2017 to January 2018

Indian Bank’s 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 Sirs,

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/d,
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

BASIC PENSION

Dearness relief for the months                                        Slabs

August 2017 to January 2018                                           1438

Average Index                                                                   6353

(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

(iii)           

Rs.2001 to Rs.2130

Rs.       17975.00                 plus         474.54        percent

of basic pension in excess of Rs.2000.00

(iv)           

Above Rs.2130

Rs.       18591.90                 plus          244.46        percent

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

1 Dearness relief for the months                                       Slabs

August 2017 to January 2018                                           1301

Average Index                                                                    6353

(i)  

Upto Rs.2400

455.35                                 per cent.

(ii)            

Rs.2401 to Rs.3850

Rs.         10928.40                 plus          377.29        percent

of basic pension in excess of Rs.2400.00

(iii)           

Rs.3851 to Rs.4100

Rs.         16399.10                 plus          221.17        percent

of basic pension in excess of Rs.3850.00

iv

Above Rs.4100

Rs.         16952.02                 plus          117.09        percent

of basic pension in excess of Rs.4100.00

PART- Ill

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

BASIC PENSION

Dearness relief for the months                                        Slabs

August 2017 to January 2018                                           1167

Average Index                                                                   6353

(i)  

Upto Rs.3550

280.08                                 per cent.

(ii)            

Rs.3551 to Rs.5650

Rs.         9942.84                   plus          233.40        percent

of basic pension in excess of Rs.3550.00

(iii)           

Rs.5651 to Rs.6010

Rs.         14844.24                 plus          140.04        percent

of basic pension in excess of Rs.5650.00

(iv)           

Above Rs.6010

Rs.         15348.38                 plus           70.02         percent

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 June 2017                                             6353

No. of Slabs                                                                                                                 1016

Rate of dearness relief on pension for the months                     182.88       % of basic

August 2017 to January 2018                                                                        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                     131.85       % of basic

August 2017 to January 2018                                                                        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                       47.80       % of basic

August 2017 to January 2018                                                                        pension

(ignore decimals from 3rd place onwards)                                                                                    

Signed Copy

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Comments

  1. My basic pension on 31st march 2013 was fixed as Rs32330/-+DA at that time. Wil I get benifits of Dearness Relief.