Dearness Relief payable to Pensioners for the period February 2018 to July 2018

Dearness Relief payable to Pensioners for the period February 2018 to July 2018

HR & INDUSTRIAL RELATIONS

No.CIR/HR&IR/D/G2/2017-18/4433

February 1, 2018

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 2018 to July 2018

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended December, 2017 are as follows:-

October 2017             –  6551.03
November 2017         – 6573.86
December 2017          – 6528.21

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 2018 to July 2018 as per Annexure.

Yours faithfully,
S/d,
S K KAkkar
Senior Advisor (HR&IR)

Encl.

 

 

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

February 2018 to July 2018   1487

Average Index                        6551

(i)

Upto Rs.1250

996.29         per cent.

(ii)

Rs.1251 to Rs.2000

Rs.   12453.62  plus    817.85 percent

of basic pension in excess of Rs.1250.00

(iii)

Rs.2001 to Rs.2130

Rs.   18587.49  plus    490.71 percent

of basic pension in excess of Rs.2000.00

(iv)

Above Rs.2130

Rs.   19225.41     plus    252.79 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

Dearness relief for the months      Slabs

February 2018 to July 2018           1350

Average Index                                 6551

(i)

Upto Rs,2400

472.50 per cent.

(ii)

Rs.2401 to Rs.3850

Rs.   11340.00  plus    391.5 percent

of basic pension in excess of Rs.2400.00

(iii)

Rs.3851 to Rs.4100

Rs.   17016.75  plus    229.5 percent

of basic pension in excess of Rs.3850.00

(iv)

Above Rs.4100

Rs.   17590.50  plus    121.5 percent

of basic pension in excess of Rs.4100.00

 

PART- Ill

Dearness Relief to pensioners who retired on or after 1st day of Apri1,1998.

BASIC PENSION

Dearness relief for the months         Slabs

February 2018 to July 2018             1216

Average Index                                       6551

(i)  

Upto Rs.3550

291.84 per cent.

(ii)   

Rs.3551 to Rs.5650

Rs.   10360.32     plus      243.20 percent

of basic pension in excess of Rs.3550.00

(iii)  

Rs.5651 to Rs.6010

Rs.   15467.52     plus      145.92 percent

of basic pension in excess of Rs.5650.00

(iv)  

Above Rs.6010

Rs.   15992.83     plus       72.96 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 December 2017

6551

No. of Slabs

1065

Rate of dearness relief on pension

for the months February 2018 to July    191.70                               % of basic

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 December 2017                    6551

No. of Slabs                                                                                                 928

Rate of dearness relief on pension

for the months February 2018 to july 2018             139.20  % 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 December 2017                    6551

No. of Slabs                                                                                                 527

Rate of dearness relief on pension

for the months

February 2018 to july 2018             52.70  % of basic   pension                                                            

(Ignore decimals from 3rd place onwards)

 

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