Bank Dearness Relief for the period February 2017 to July 2017
Indian Banks Association
HR & Industrial Relations
No.CIR/HR&IR/D/G2/2016-17/1998
February 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 February 2017 to July 2017
The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended December, 2016 are as follows:-
October 2016 – 6345.60
November 2016 – 6322.77
December 2016 – 6277.12
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 hox basis, the Dearness Relief payable to Pensioners for the period February 2017 to July 2017 as per Annexure.
Yours faithfully,
K S chauhan
Senior Vice President
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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 before the 1st day of November, 1992/1st July, 1993 |
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BASIC PENSION |
Dearness relief for the months February 2017 to July 2017 Average Index |
Slabs 1429 6315 |
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(i) |
Upto Rs.1250 |
957.43 Percent |
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(ii) |
Rs.1251 to Rs.2000 |
Rs. 11967.87 Plus 785.95 Percent Of basic pension in excess of Rs.1250.00 |
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(iii) |
Rs.2001 to Rs.2130 |
Rs. 17862.49 plus 471.57 Percent Of basic pension in excess of Rs.2000.00 |
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(iv) |
Above Rs.2130 |
Rs. 18475.53 Plus 242.93 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, 1992/1 st July, 1993 |
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BASIC PENSION |
Dearness relief for the months February 2017 to July 2017 Average Index |
Slabs 1292 6315 |
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(i) |
Upto Rs.2400 |
452.20 Percent |
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(ii) |
Rs.2401 to Rs.3850 |
Rs. 10852.80 plus 374.68 Percent Of basic pension in excess of Rs.2400.00 |
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(iii) |
Rs.3851 to Rs.4100 |
Rs. 16285.66 Plus 219.64 Percent Of basic pension in excess of Rs.3850.00 |
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(iv) |
Above Rs.4100 |
Rs. 16834.76 Plus 116.28 Percent Of basic pension in excess of Rs.4100.00 |
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PART -III |
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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 February 2017 to July 2017 Average Index |
Slabs 1158 6315 |
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(i) |
Upto Rs.3550 |
277.92 Percent |
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(ii) |
Rs.3551 to Rs.5650 |
Rs. 9866.16 Plus 231.60 Percent Of basic pension in excess of Rs.3550.00 |
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(iii) |
Rs. 5651 to Rs.6010 |
Rs. 14729.76 Plus 138.96 Percent Of basic pension in excess of Rs.5650.00 |
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(iv) |
Above Rs.6010 |
Rs. 15230.01 Plus 69.48 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 December 2016 6315 |
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No.Of Slabs 1007 |
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Rate of dearness Relief on pension for the Months 130.50 % Of basic 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 December 2016 469 |
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No. of Slabs |
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Rate of dearness Relief on Pension for the Months 46.90 % of basic Pension February 2017 to July 2017 |
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(ignore decimals from 3rd place onwards) |
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