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

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 2016 – 6185.82
May 2016 – 6277.12
Jun 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,

K.S Chauhan
Senior Vice President

PART– I
Dearness Relief to pensioners who retired on or after 1^st day of January, 1986, but before the 1^st day of November, 1992/1^st 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 1^st day of November, 1992/1^st July, 1993
BASIC PENSION		Dearness relief for the months	Slabs
		August 2016 to January 2017	1278
		Average Index	6261
(i)	Upto Rs. 2400	447.30 percent
(ii)	Rs. 2401 to Rs. 3850	Rs. 10735.20 plus 370.62 percent of basic pension in excess of Rs. 2400.00
(iii)	Rs.3851 to Rs.4100	Rs. 16109.19 plus 217.26 percent of basic pension in excess of Rs. 3850.00
(iv)	Above Rs. 4100	Rs. 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 1^st day of April, 1998.
BASIC PENSION		Dearness relief for the months	Slabs
		August 2016 to January 2017	1144
		Average Index	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. 3500.00
(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 1^st 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 2016 to January 2017	178.74 % of basic pension

PART– V
Dearness Relief to pensioners who retired on or after 1^st 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 2016 to January 2017	128.40 % of basic pension

PART– VI
Dearness Relief to pensioners who retired on or after 1^st 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 2016 to January 2017	45.50 %

Read more details – http://www.iba.org.in/Documents/Circular772.pdf

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