Dearness Relief payable to 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/d,
S.K.Kakkar
Senior Advisor
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PART- I |
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Dearness Relief to pensioners who retired on or after 1st day of January,1986, but |
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BASIC PENSION |
Dearness relief for the months Slabs August 2017 to January 2018 1438 Average Index 6353 |
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(i) |
Upto Rs.1250 |
963.46 per cent. |
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(ii) |
Rs.1251 to Rs.2000 |
Rs. 12043.25 plus 790.90 percent of basic pension in excess of Rs.1250.00 |
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(iii) |
Rs.2001 to Rs.2130 |
Rs. 17975.00 plus 474.54 percent of basic pension in excess of Rs.2000.00 |
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(iv) |
Above Rs.2130 |
Rs. 18591.90 plus 244.46 percent of basic pension in excess of Rs.2130.00 |
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PART- II |
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Dearness Relief to pensioners who retired on or after 1st day of November,1992/1st |
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BASIC PENSION |
1 Dearness relief for the months Slabs August 2017 to January 2018 1301 Average Index 6353 |
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(i) |
Upto Rs.2400 |
455.35 per cent. |
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(ii) |
Rs.2401 to Rs.3850 |
Rs. 10928.40 plus 377.29 percent of basic pension in excess of Rs.2400.00 |
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(iii) |
Rs.3851 to Rs.4100 |
Rs. 16399.10 plus 221.17 percent of basic pension in excess of Rs.3850.00 |
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iv |
Above Rs.4100 |
Rs. 16952.02 plus 117.09 percent of basic pension in excess of Rs.4100.00 |
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PART- Ill |
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Dearness Relief to pensioners who retired on or after 1st day of April,1998. |
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BASIC PENSION |
Dearness relief for the months Slabs August 2017 to January 2018 1167 Average Index 6353 |
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(i) |
Upto Rs.3550 |
280.08 per cent. |
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(ii) |
Rs.3551 to Rs.5650 |
Rs. 9942.84 plus 233.40 percent of basic pension in excess of Rs.3550.00 |
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(iii) |
Rs.5651 to Rs.6010 |
Rs. 14844.24 plus 140.04 percent of basic pension in excess of Rs.5650.00 |
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(iv) |
Above Rs.6010 |
Rs. 15348.38 plus 70.02 percent of basic pension in excess of Rs.6010.00 |
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PART-IV |
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Dearness Relief to pensioners who retired on or after 1st day of November, 2002. |
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Average Index (CPI) for quarter ended June 2017 6353 |
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No. of Slabs 1016 |
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Rate of dearness relief on pension for the months 182.88 % of basic August 2017 to January 2018 pension |
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(ignore decimals from 3rd place onwards) |
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PART-V |
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Dearness Relief to pensioners who retired on or after 1st day of November, 2007. |
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Average Index (CPI) for quarter ended June 2017 6353 |
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No. of Slabs 879 |
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Rate of dearness relief on pension for the months 131.85 % of basic August 2017 to January 2018 pension |
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(ignore decimals from 3rd place onwards) |
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PART-VI |
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Dearness Relief to pensioners who retired on or after 1st day of November, 2012. |
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Average Index (CPI) for quarter ended June 2017 6353 |
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No. of Slabs 478 |
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Rate of dearness relief on pension for the months 47.80 % of basic August 2017 to January 2018 pension |
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(ignore decimals from 3rd place onwards) |
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