Bank Pensioners – Dearness Relief increased from February 2013

Dearness Relief to Bank Pensioner for the Period February, 2013 to July 2013 increased on the basis of All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100)

DA rate increase will be depending upon the date of retirement of Pensioners and the same is given in Annexure to IBA Circular No.CIR/HR&IR/D/G2/2013/6693 dated 01.02.2013 which is reproduced below.

Indian Banks’ Association

HR & INDUSTRIAL RELATIONS

No.CIR/HR&IR/D/G2/2013/6693

February 1, 2013

To

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 February 2013 to July 2013

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended December, 2012 are as follows:-

October 2012 4953.22

November 2012 4976.05

December 2012 4998.87

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 February 2013 to July 2013 as per Annexure.

Yours faithfully,

PRABIR MOULIK

SENIOR ADVISOR-HR&IR

Download IBA order dated 01.02.2013 for increase DA for Bank Pensioners

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