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Wednesday, August 3, 2016

Dearness Relief payable to Pensioners for the period august 2016 to January 2017

Dearness Relief payable to Pensioners for the period august 2016 to January 2017

India Banks Association

HR & Industrial Relations

No.CIR/HR&IR/D/G2/2016-17/772
August 1, 2016

Designated Officers of all Member Banks 
which are parties to the Bipartite Settlement on pension

Dear sir,

Dearness Relief payable to Pensioners for the period august 2016 to January 2017

The confirmed All India Average consumer Price Index Numbers for Induustrial workers (Base 1960=100) for the quarter ended June, 2016 are as follows:-

April 2016 - 6185.82
May 2016 - 6277.12
June 2016 - 6322.77

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 2016 to January 2017 as per Annexure.

Yours faithfully,

Sd/-
K.S.chauhan
Senior vice President


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 2016 to January 2017
1415

Average Index
6261

(i)
Upto Rs. 1250
          948.05          Percent.   


(ii)
Rs.1251 to Rs.2000
Rs. 11850/62          Plus          778.25          Percent
Of basic pension in excess of Rs.1250.00


(iii)
Rs.2001 to Rs.2130
Rs. 17687.49          Plus          466.95          Percent
Of basic pension in excess of Rs.2000.00


(iv)
Above Rs.2130
Rs.18294.52          Plus          240.55          Percent
Of basic pension in excess of Rs.2130.00



PART – II
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 2016 to January 2017
1415
Average Index
6261
(i)
Upto Rs.1250
          948.05          Per cent
(ii)
Rs.1251 to Rs.2000
Rs.11850.62          Plus          778.25          Percent
Of basic pension in excess of Rs.1250.00        
(iii)
Rs.2001 to Rs.2130
Rs.17687.49          Plus          466.95          Percent
Of basic pension in excess of Rs.2000.00
(iv)
Above Rs.2130
Rs.18294.52          Plus          240.55          Percent
Of basic pension in excess of Rs.2130.00
PART – III
Dearness Relief to pensioners who retired on or after 1st day of April, 1998.
Basic pension
Dearness relief for the months August 2016 to January 2017 Average Index
Slabs

1144
6261
(i)
Upto Rs.3550
          274.56          Percent

(ii)
Rs.3551 to Rs.5650
Rs.9746.88          Plus          228.8          Percent
Of basic pension in excess of Rs.3550.00

(iii)
Rs.5651 to Rs.6010
Rs.14551.68          Plus          137.28          Percent
Of basic pension in excess of Rs.5650.00

(iv)
Above Rs.6010
Rs.15045.88          Plus          68.64          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 2016                    6261
No.of Slabs                                                                                          993
Rate of dearness relief on pension for the months August      178.74% of basic pension
2016 to January 2017



Part-V
Dearness Relief to Pensioners who retired on or after 1st day of November, 2007.
Average Index (CPI) for quarter ended June 2016                      6261
No.of Slabs                                                                                            856
Rate of dearness relief on pension for the months August       128.40% of basic pension
2016 to January 2017


Part-VI
Dearness Relief to pensioners who retired on or after 1st day of November, 2012
Average Index (CPI) for quarter ended June 2016                        6261
No.of slabs                                                                                               455
Rate of dearness relief on pension for the months August          45.50%
2016 to January 2017

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