Dearness Relief payable to Pensioners for the period August 2022 to January 2023: IBA

Dearness Relief payable to Pensioners for the period August 2022 to January 2023: IBA

Dearness Relief payable to Pensioners for the period August 2022 to January 2023: IBA Order dated 01.08.2022

Indian Banks’ Association

HR & INDUSTRIAL RELATIONS

No.CIR/HR&IR/D/G2/2022-23/11416
August 1, 2022

Designated Officers of all Member Banks
which are parties to the Bipartite Settlement on Pension

Dear Sir/Madam,

Dearness Relief payable to Pensioners for the period August 2022 to January 2023
The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended June, 2022 are as follows:-

April 2022 – 8394.82
May 2022 – 8480.28
June 2022 – 8493.43

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 2022 to January 2023 as per Annexure.

Yours faithfully,

Brajeshwar Sharma
Senior Advisor (HR&IR)

Encl.

PART-I

Dearness Relief to pensioners who retired on or after 1st day of January, 1986, but before the 1st day of November, 1992/1st July, 1993
BASIC PENSION Dearness relief for the months August 2022 to January 2023 Average Index Slabs
1964
8456
(i) Upto Rs.1250 1315.88 per cent.
(ii) Rs.1251 to Rs.2000 Rs. 16448.50 plus 1080.20 percent of basic pension in excess of Rs.1250.00
(iii) Rs.2001 to Rs.2130 Rs. 24550.00 plus 648.12 percent of basic pension in excess of Rs.2000.00
(iv) Above Rs.2130 Rs. 25392.55 plus 333.88 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 months August 2022 to January 2023 Average Index Slabs
1827
8456
(i) Upto Rs.2400 639.45 per cent.
(ii) Rs.2401 to Rs.3850 Rs. 15346.80 plus 529.83 percent of basic pension in excess of Rs.2400.00
(iii) Rs.3851 to Rs.4100 Rs. 23029.33 plus 310.59 percent of basic pension in excess of Rs.3850.00
(iv) Above Rs.4100 Rs. 23805.80 plus 164.43 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 months August 2022 to January 2023 Average Index Slabs
1693
8456
(i) Upto Rs.3550 406.32 per cent.
(ii) Rs.3551 to Rs.5650 Rs. 14424.36 plus 338.60 percent of basic pension in excess of Rs.3550.00
(iii) Rs.5651 to Rs.6010 Rs. 21534.96 plus 203.16 percent of basic pension in excess of Rs.5650.00
(iv) Above Rs.6010 Rs. 22266.33 plus 101.58 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 2022 8456
No. of Slabs 1542
Rate of dearness relief on pension for the months August 2022 to January 2023 277.56 % of basic pension
(ignore decimals from 3rd place onwards)

 

PART-V

Dearness Relief to pensioners who retired on or after 1st day of November, 2007.
Average Index (CPI) for quarter ended June 2022 8456
No. of Slabs 1405
Rate of dearness relief on pension for the months August 2022 to January 2023 210.75 % of basic pension
(ignore decimals from 3rd place onwards)

 

Source: IBA

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