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Wednesday, August 6, 2014

Dearness Relief payable to Pensioners for the period August 2014 to January 2015


HR & INDUSTRIAL RELATIONS

No.CIR/HR&IR/D/G2/2014-15/426
August 1, 2014

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 2014 to January 2015

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended June 2014 are as follows:-


April 2014            - 5523.87
May 2014             - 5569.52
June 2014            - 5615.17

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 August 2014 to January 2015 as per Annexure.

Yours faithfully,

Sd/-
K S Chauhan
Senior Vice President

Annexure to Circular No.CIR/HR&IR/76/D/G2/2014-15/426 , dated August 1, 2014


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



Dearness relief for the months

Slabs

         BASIC PENSION
August to January 2015

1242



Average Index

5569


(i)

Upto Rs.1250

832.14 percent.


(ii)

Rs.1251 to Rs.2000
Rs. 10401.75 plus 683.1  percent
of basic pension in excess of Rs. 1250.00


(iii)

Rs.2001 to Rs.2130
Rs. 15525.00 plus 409.86  percent
of basic pension in excess of Rs.2000.00


(iv)

Above Rs.2130
Rs. 16057.81 plus 211.14  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
August 2014 to January 2015
Average Index



Slabs
1105
5569


(i)

Up to Rs.2400

386.75 per cent.


(ii)

Rs.2401 to Rs.3850
Rs.9282.00plus 320.45  percent
of basic pension in excess of Rs.2400.00


(iii)

Rs.3851 to Rs.4100
Rs.13928.52 plus 187.85' percent
of basic pension in excess of Rs.3850.00


(iv)

Above Rs.4100
Rs.14398.14 plus 99.45  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 2014 to January 2015
 Average Index
Slabs
971
5569



(i)

Upto Rs.3550

233.04 per cent.



(ii)

Rs.3551 to Rs.5650 -
Rs.8272.92  plus 194.2  percent
of basic pension in excess of Rs.3550.00



(iii)

Rs.5651 to Rs.6010 .
Rs.12351.12 plus 116.52 percent
 of basic pension in excess of Rs.5650.00



(iv)

Above Rs.6010 /
Rs.12770.59 plus 58.26  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, 2014                                                                          5569


No. of Slabs
                                                                                                              820


Rate of dearness relief on pension for the months August                                         147.60% of basic
2014 to January 2015                                                                                                                          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 2014                                                                               5569


No. of Slabs
                                                                                                                683


Rate of dearness relief on pension for the months August                                        102.45% of basic
2014 to January 2015                                                                                                                        pension


(ignore decimals from 3rd place onwards)








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