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 |
|
|||||||
| (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/- | ||||||
| PART-II | ||||||||
Dearness Relief to pensioners who retired on or after 1st day of November,1992/1st July, 1993 |
||||||||
| BASIC PENSION |
|
|||||||
| (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 |
|
|||||||
| (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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