Tuesday, August 06, 2013

IBA Circulars : IBA published Dearness Relief Orders for Bank Pensioners

IBA Circulars : IBA published Dearness Relief Orders for Bank Pensioners 

Indian Bank Association has published orders on increasing of Dearness relief to pensioners for the period August 2013 to Januany 2014 and the detailed report of DR to all retired employees as follows...

Indian Banks’ Association

HR & INDUSTRIAL RELATIONS

No.CIR/HR&IR/76/D/G2/2013-2014/7589

August 1,2013

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 August 2013 to Januany 2014

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended June, 2013 are as follows:-


April 2013   -   5158.65
May 2013   -   5204.31
June 2013   -   5272.78

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 2013 to January 2014 as per Annexure.

Yours faithfully,
sd/-
K UNNIKRISHNAN
DY. CHIEF EXECUTIVE

Annexure to Circular No.CIR/HR&IR/76/D/G2/2013-14/7589, dated August 1, 2013



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
Slabs
August 2013 to January 2014
1152
Average Index
5211
(i) Upto Rs.1250 771.84 per cent
(ii)Rs 1251 to Rs 2000 Rs. 9648.00 pIus 633.6 percent
 of basic pension in excess of Rs.1250.00
(iii) Rs.2001 to Rs.2130 Rs. 14400.00 pIus 380.16 percent
 of basic pension in excess of Rs.2000.00
(iv) Above Rs.2130Rs.14894.20 plus 195.84 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
Slabs
August 2013 to January 2014
1015
Average Index
5211
(i) Upto Rs.2400 355 25 per cent.
(ii) Rs.2401 to Rs.3850 Rs.8526.00 pIus 294.35 percent
 of basic pension in excess of Rs.2400.00
(iii)Rs.3851 to Rs.4100Rs.12794.07 pIus 172.55 percent
 of basic pension in excess of Rs.3850.00
(iv)Above Rs.4100 Rs.13225.44 plus 91.35 percent
 of basic pension in excess of Rs.4100.00

PART-I II
Dearness Relief to pensioners who retired on or after 1st day of April,1998.
BASIC PENSION
Dearness relief for the months
Slabs
August 2013 to January 2014
881
Average Index
5211
(i)Upto Rs.3550 211.44 percent.
(ii)Rs.3551 to Rs.5650 Rs.7506.12 plus 176.2 percent
 of basic pension in excess of Rs.3550.00
(iii)Rs.5651 to Rs.6010 Rs.11206.32 plus 105.72 percent
 of basic pension in excess of Rs.5650 00
(iv)Above Rs.6010 Rs.11586.91 plus 52.86 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 2013 5211
No. of Slabs730
Rate of dearness relief on pension for the months August 2013 to January 2014131.40% of
basic Pension
(ignore decimals from third 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 2013 5211
No. of Slabs593
Rate of dearness relief on pension for the months August 2013 to January 201488.95% of
 basic Pension
(ignore decimals from third place onwards)
Source : www.iba.org.in
[http://www.iba.org.in/Documents/scan0014.pdf]


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