Dearness Relief from August 2015 increased for Bank Pensioners

Dearness Relief to Bank Pensioners for the period from August 2015 to January 2016 – Dearness Relief Retired Bank Employees are based on All  India   Average   Consumer    Price   Index  Numbers   for  Industrial    Workers (Base  1960=100)    for the quarter  ended  June,  2015

IBA has sent a letter to all the Designated Officers of all Member Banks which are parties to the Bipartite Settlement on Pension regarding Dearness Relief payable to Pensioners for the period August 2015 to January 2016

Indian  Banks’  Association

HR & INDUSTRIAL  RELATIONS

No.CIR/HR&IR/D/G2/2015-16/1161

                                                           August  3,   2015

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  2015 to January 2016

The  confirmed   All  India   Average   Consumer    Price   Index  Numbers   for  Industrial    Workers (Base  1960=100)    for the quarter  ended  June,  2015    are as follows:-                                              ·

April   2015 5843.43
May   2015 5889.08
June 2015 5957.56

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   2015 to January  2016    as per Annexure.

Yours  faithfully,

Sr. Vice  President

Annexure to Circular   No.CIR/HR&IR/76/D/G2/2015-16/1161 dated  3rd August  2015

  PART- I
 Dearness Relief to Pensioners who retired on or after 1st day of November, 1992/1st July, 1993
BASIC PENSION 
Dearness  relief for the months Slabs
August 2015  to January 2016 1324
Average  Index 5896
(i)  Upto Rs.  1250    887 08 per cent.
(ii)  Rs.1251  to Rs.2000 Rs.11088.50 plus 728.2         percent of basic pension   in excess of Rs.1250.00
(iii) Rs.2001 to Rs.2130  Rs.16550.00 plus 436.92          percent of basic pension  in excess of Rs.2000.00
(iv) Above  Rs.2130 Rs.17117.99 plus 225 08        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 PENSION Dearness  relief for the monthsAugust2015  to January 2016Average  Index Slabs
1187
5896
(i) Upto Rs.2400 415.45  per cent
(ii) Rs.2401 to Rs.3850 Rs. 9970.80  plus 344.23 percent of basic   pension  in excess  of Rs.2400.00
(iii)  Rs.3851 to Rs.4100 Rs.14962.13 plus 201.79 percent of basic  pension  in excess  of Rs.3850.00
(iv) Above  Rs .4100  Rs.15466.60 plus 106.83 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 PENSION Dearness  relief for the monthsAugust2015  to January 2016Average  Index Slabs
1053
5896
(i) Upto Rs.3500 252.72  per cent
(ii)  Rs.3551   to Rs.5650  Rs.8971 56 plus 210.6 percent of basic pension in  excess  of Rs.3550.00
(iii)  Rs.5651 to Rs.6010 Rs.13394.16 plus 126.36 percent of basic   pension    in  excess of Rs.5650.00
(iv) Above  Rs .6010 Rs.13849.05 plus 63.18 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 2015 5896
No. of Slabs   902
Rate of dearness relief  on pension for the months  August  2015 to January 2016 162.36% 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  2015 5896
No. of Slabs  765
Rate of dearness relief on pension for the months  August 2015 to January 2016  114.75%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  2015 5896
No. of Slabs 364
Rate of dearness relief on pension for the months  August 2015 to January 2016  36.40%

Download Indian Bankers’ Association No.CIR/HR&IR/D/G2/2015-16/1161 dated 03.08.2015

 

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