Dearness Relief payable to Pensioners for the period February to July, 2016
Indian Banks’ Association
HR & INDUSTRIAL RELATIONS
No. CIRTHR&IR/D/G2/2015-16/2013
January 30, 2016
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 to July, 2016
The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended December, 2015 are as follows:-
Oct 2015 6140.17
Nov 2015 6162.99
Dec 2015 6140.17
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 2016 to July 2016 as per Annexure.
Yours faithfully,
K S Chauhan
Senior Vice President
Encl.
Continuation sheet
Indian Banks Association
Annexure to Circular No. CIR/HR&IR/D/G2/2015-16/2013 Dated January 30,2016 |
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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 to July 2016 Average Index |
Slabs 1386 6147 |
|
(i) |
Upto ₹1250 |
928.62 % |
|
(ii) |
₹1251 to ₹2000 |
₹11607.75 Plus 762.30% of basic pension in excess of ₹1250.00 |
|
(iii) |
₹2001 to ₹2130 |
₹ 17325 Plus 457.38 % of basic pension in excess of ₹2000.00 |
|
(iv) |
Above ₹21.30 |
₹17919.59 plus 2235.62 % of basic pension in excess of ₹2130.00 |
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 February to July 2016 Average Index |
Slabs 1249 6147 |
|
(i) |
Upto ₹2400 |
437.15 % |
|
(ii) |
₹2401 to ₹3850 |
₹10491.60 Plus 362.21% Of basic pension in excess of ₹2400.00 |
|
(iii) |
₹3851 to ₹4100 |
₹15743.64 Plus 212.33% Of basic pension in excess of ₹3850.00 |
|
(iv) |
Above ₹4100 |
₹16274.46 plus 112,41% Of basic Pension in excess of ₹4100.00 |
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 to July 2016 Average Index |
Slabs 1115 6147 |
|
(i) |
Upto ₹3550 |
267.60 % |
|
(ii) |
₹3551 to 5650 |
₹9499.80 Plus 223.00% Of basic pension in excess of ₹3550.00 |
|
(iii) |
₹5651 to ₹6010 |
₹14182.8 Plus 133.80% Of basic pension in excess of ₹5650.00 |
|
(iv) |
Above ₹6010 |
₹14664.48 Plus 66.90% Of basic pension in excess of ₹6010.00 |
|
PART-IV |
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Dearness Relief to pensioners who retired on or after 1t day of November,2002. |
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Average Index (CPI) for quarter ended December 2015 6147 |
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No. of Slabs 964 |
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Rate of Dearness relief on pension for the February to July 2016 173.51 % of basic pension
|
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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 2015 6147 |
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No. of Slabs 827 |
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Rate of Dearness Relief on pension for the months 124.05% of basic pension February to July 2016 |
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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 2015 6147 |
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No. of Slabs 426 |
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Rate of Dearness Relief on pension for the Months 42.60 % of basic pension February to July 2016 |
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(Ignore decimals from 3rd place onwards) |
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