Dearness Relief payable to Pensioners for the period February 2018 to July 2018
HR & INDUSTRIAL RELATIONS
No.CIR/HR&IR/D/G2/2017-18/4433
February 1, 2018
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 2018 to July 2018
The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended December, 2017 are as follows:-
October 2017 – 6551.03
November 2017 – 6573.86
December 2017 – 6528.21
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 2018 to July 2018 as per Annexure.
Yours faithfully,
S/d,
S K KAkkar
Senior Advisor (HR&IR)
Encl.
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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 |
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BASIC PENSION |
Dearness relief for the months Slabs February 2018 to July 2018 1487 Average Index 6551 |
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(i) |
Upto Rs.1250 |
996.29 per cent. |
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(ii) |
Rs.1251 to Rs.2000 |
Rs. 12453.62 plus 817.85 percent of basic pension in excess of Rs.1250.00 |
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(iii) |
Rs.2001 to Rs.2130 |
Rs. 18587.49 plus 490.71 percent of basic pension in excess of Rs.2000.00 |
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(iv) |
Above Rs.2130 |
Rs. 19225.41 plus 252.79 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 July, 1993 |
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BASIC PENSION |
Dearness relief for the months Slabs February 2018 to July 2018 1350 Average Index 6551 |
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(i) |
Upto Rs,2400 |
472.50 per cent. |
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(ii) |
Rs.2401 to Rs.3850 |
Rs. 11340.00 plus 391.5 percent of basic pension in excess of Rs.2400.00 |
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(iii) |
Rs.3851 to Rs.4100 |
Rs. 17016.75 plus 229.5 percent of basic pension in excess of Rs.3850.00 |
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(iv) |
Above Rs.4100 |
Rs. 17590.50 plus 121.5 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 Apri1,1998. |
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BASIC PENSION |
Dearness relief for the months Slabs February 2018 to July 2018 1216 Average Index 6551 |
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(i) |
Upto Rs.3550 |
291.84 per cent. |
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(ii) |
Rs.3551 to Rs.5650 |
Rs. 10360.32 plus 243.20 percent of basic pension in excess of Rs.3550.00 |
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(iii) |
Rs.5651 to Rs.6010 |
Rs. 15467.52 plus 145.92 percent of basic pension in excess of Rs.5650.00 |
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(iv) |
Above Rs.6010 |
Rs. 15992.83 plus 72.96 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 2017 6551 |
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No. of Slabs 1065 |
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Rate of dearness relief on pension for the months February 2018 to July 191.70 % of basic 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 December 2017 6551 |
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No. of Slabs 928 |
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Rate of dearness relief on pension for the months February 2018 to july 2018 139.20 % 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 2017 6551 |
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No. of Slabs 527 |
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Rate of dearness relief on pension for the months February 2018 to july 2018 52.70 % of basic pension |
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(Ignore decimals from 3rd place onwards)
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