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

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

Dearness Relief payable to Pensioners for the period August 2017 to January 2018 – Indian Bank’s Association Circular

Dearness Relief for Bank 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.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 monthsAugust 2017 to January 2018Average Index Slabs1438

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

Dearness relief for the monthsAugust 2017 to January 2018 Average Index

Slabs1301

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- III

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

BASIC PENSION

Dearness relief for the months August 2017 to January 2018Average Index Slabs1167

6353

(i)

Up to 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 
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 monthsAugust 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 monthsAugust 2017 to January 2018 47.80% of basic pension
(ignore decimals from 3rd place onwards)

Source : Download / Read Dearness Relief for Bank Pensioners for the period August 2017 to January 2018 Indian Bank’s Association No.CIR/HR&IR/D/G2/2017-18/3314 dated 01.08.2017

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