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Dearness Relief payable to Pensioners for the period February to July, 2016

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

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 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

Dearness Relief to pensioners who retired on or after 1st day of November,1992/1st July 1993

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

Dearness Relief to pensioners who retired on or after 1st day of April,1998

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

Dearness Relief to pensioners who retired on or after 1t day of November,2002.

Average Index (CPI) for quarter ended December 2015                                       6147

No. of Slabs                                                                                                                       964

Rate of Dearness relief on pension for the  February to July 2016        173.51 % 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 December 2015                                      6147

No. of Slabs                                                                                                                     827

Rate of Dearness Relief on pension for the months                                 124.05% of basic pension

February to July 2016

PART-VI

Dearness Relief to pensioners who retired on or after 1st day of November,2012.

Average Index(CPI) for quarter ended December 2015                                      6147

No. of Slabs                                                                                                                     426                                                   

Rate of Dearness Relief on pension for the Months                                 42.60 % of basic pension

February to July 2016

(Ignore decimals from 3rd place onwards)

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