Clarity on calculation of Dearness Relief payable to Bank Pensioners for the period August 2024 to January 2025

Clarity on calculation of Dearness Relief payable to Bank Pensioners for the period August 2024 to January 2025

Clarity on calculation of Dearness Relief payable to Bank Pensioners for the period August 2024 to January 2025

Indian Banks’ Association

HR & INDUSTRIAL RELATIONS

No.CIR/HR&IR/D/G2/2024-25/1322-A
August 16, 2024

Designated Officers of all Member Banks
which are parties to the Bipartite Settlement on Pension

Dear Sir/ Madam,

Dearness Relief payable to Pensioners for the period August 2024 to January 2025 – Clarity on DR calculation

Attention is drawn to our earlier circular No.CIR/HR&IR/D/G2/2024-25/1322 dated 7.8.2024, wherein the DR payable to pre November 2002 retirees / family pensioners by member banks who are yet to implement our letter HR&IR/MBR/G2/0533 dated 16.10.2023, was communicated.

To bring more clarity in the DR calculation, we request such of those member banks who are yet to implement our letter HR&IR/MBR/G2/0533 dated 16.10.2023, to ignore the Annexure I to the said circular and consider the Annexure I to this circular.

Yours faithfully,

Sd/-
Brajeshwar Sharma
Senior Advisor (HR&IR)

Annexure I

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 2024 to January 2025 2154
Average Index 9218.74
(i) Upto Rs.1250/- 1443.18 percent
(ii) Rs.1251/- to Rs.2000/- Rs.18039.75 plus 1184.70 percent of Basic Pension in excess of Rs.1250/-
(iii) Rs.2001/- to Rs.2130/- Rs.26925/- plus 710.82 percent of Basic Pension in excess of Rs.2000/-
(iv) Above Rs.2130/- Rs.27849.07 plus 366.18 percent of Basic Pension in excess of Rs.2130/-

bank-dearness-allowance-dearness-relief

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 2024 to January 2025 2017
Average Index 9218.74
(i) Upto Rs.2400/- 705.95 percent
(ii) Rs.2401/- to Rs.3850/- Rs.16942.80 plus 584.93 percent of Basic Pension in excess of Rs.2400/-
(iii) Rs.3851/- to Rs.4100/- Rs.25424.29 plus 342.89 percent of Basic Pension in excess of Rs.3850/-
(iv) Above Rs.4100/- Rs.26281.52 plus 181.53 percent of Basic Pension in excess of Rs.4100/-

PART-III

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

BASIC PENSION
Dearness relief for the months Slabs
August 2024 to January 2025 1883
Average Index 9218.74
(i) Upto Rs.3550/- 451.92 percent
(ii) Rs.3551/- to Rs.5650/- Rs.16043.16 plus 376.60 percent of Basic Pension in excess of Rs.3550/-
(iii) Rs.5651/- to Rs.6010/- Rs.23951.76 plus 225.96 percent of Basic Pension in excess of Rs.5650/-
(iv) Above Rs.6010/- Rs.24765.22 plus 112.98 percent of Basic Pension in excess of Rs.6010/-

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