Saturday, 6 August 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

IBA circular on Dearness Relief for Bank Pensioners.

Indian 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 Sirs,
Dearness Relief payable to Pensioners for the period August 2016 to January 2017 

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

Apr 20166185.82
May 20166277.12
Jun 20166322.77

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,
K S Chauhan
Senior Vice President
Indian Banks’ Association
PART-I
Dearness Relief to pensioners who retired on or after 1st day of January,1986, but before the 1st day of November,199211st July, 1993
BASIC PENSIONDearness relief for the monthsSlabs
Auaust 2016 to January 20171415
Average Index6261
(i)Upto Rs.1250948.05 per cent.
(ii)Rs.1251 to Rs.2000Rs. 11850.62 plus 778.25 percent of basic pension in excess of Rs.1250.00
(iii)Rs.2001 to Rs.2130Rs.17687.49 plus 466.95 percent of basic pension in excess of Rs.2000.00
(iv)Above Rs.2130Rs. 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 November,1992  / 1st July, 1993
BASIC PENSIONDearness relief for the monthsSlabs
Auaust 2016 to January 20171278
Average Index6261
(i)Upto Rs.2400948.05 per cent.
(ii)Rs.2401 to Rs.3850Rs.10735.20 plus 370.62 percent of basic pension in excess of Rs.2400.00
(iii)Rs.3851  to Rs.4100Rs. 16109.19 plus 217.26 percent of basic pension in excess of Rs.3850.00
(iv)Above Rs.4100Rs.16652.34 plus 115.02 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 PENSIONDearness relief for the monthsSlabs
Auaust 2016 to January 20171144
Average Index6261
(i)Upto Rs.3550274.56 per cent.
(ii)Rs.3551 to Rs.5650Rs. 9746.88 plus 228.8 percent of basic pension in excess of Rs.3550.00
(iii)Rs.5651 to Rs.6010Rs. 14551.68 plus 137.28 percent of basic pension in excess of Rs.5650.00
(iv)Above Rs.6010Rs. 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 20166261
No. of Slabs993
Rate of dearness relief on pension for the months August
2016 to January 2017
178.74 % of basic pension
PART-V
Dearness Relief to pensioners who retired on or after 1st day of November, 2007.
Average Index (CPI) for quarter ended June 20166261
No. of Slabs856
Rate of dearness relief on pension for the months August 2016 to January 2017128.40% of basic pension
PART-VI
Dearness Relief to pensioners who retired on or after 1st day of November, 2012
Average Index (CPI) for quarter ended June 20166261
No. of Slabs455
Rate of dearness relief on pension for the months August
2016 to January 2017
45.50% of basic pension

Download IBA Circular No.CIR/HR&IR/D/G2/2016-17 /772 dated 01.08.2016

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