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HR & INDUSTRIAL RELATIONS
No.CIR/HR&IR/D/G2/2023-24/
August 2, 2023
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 2023 to January 2024
The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended June 2023 are as follows:-
Month | Amount |
---|---|
April 2023 | 8822.12 |
May 2023 | 8854.99 |
June 2023 | 8966.74 |
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 2023 to January 2024 as per Annexure.
Yours faithfully,
Brajesh Sharma
Senior Advisor (HR&IR)
No of slabs | Rate per Slab @ | Percentage of DR payable | DR payable on Basic Pension (Before commutation) |
632 | 0.07 | 44.24 % | Basic Pension ×44.24 % or basic ×0.4424 |
No of slabs | Rate per Slab @ | Percentage of DR payable | DR on Basic Pension (Before commutation) |
1145 | 0.10 | 114.50% | Basic Pension ×114.50% or Basic ×1.1145 |
No of slabs | Rate per Slab | Percentage of DR payable | DR payable on Basic Pension (Before commutation) |
1511 | 0.15 | 226.65 % | Basic Pension× 226.65 % or Basic Pension× 2.2665 |
No of slabs | Rate per Slab | Percentage of DR payable | DR on Basic Pension (Before commutation) |
1648 | 0.18 | 296.68% | Basic Pension× 296.68 % or Basic Pension× 2.9668 |
Basic pension | DR amount |
Up to basic pension 3550@24% per slab | Basic Pension× 431.82% |
Basic pension from 3551 to 5650 (2100@ 20% per slab) | 15329.61+359.8 % over 3550 |
Basic pension from 5651 to 6010 (360@ 12% per slab) | 22884.80 + 215.88 % over 5650 |
Basic pension 6011 and above@6% per slab | 23661.96 +107.94% over 6010 |
Note: on @100% neutralization after DFS approval: DA for the entire basic pension @ 431.82% or multiply your entire basic pension@ 4.3182 |
Basic pension (before commutation) | DR Amount |
Up to basic pension 2400 (@ 35% per slab | 676.55 % × basic pension |
Basic pension from 2401 to 3850 (1450 @29% per slab) | 16237.20+560.57 % over 2400 |
Basic pension from 3851 to 4100 (250@17% per slab) | 24365.47 +328.61% over 3850 |
Basic pension 4101 and above @9% per slab | 25187.47+173.97 % over 4100 |
Note: on @100% neutralization after DFS approval: DA for the entire basic pension @ 676.55% or multiply your entire basic pension@ 6.7655 |
Average index number8881- 600= 8281 points (2070 slabs)
Basic pension | DR amount on 2070 slabs |
Basic pension up to 1250@ 67% per slab | Basic Pension x 1386.90% |
Basic pension from 1251 to 2000 (750) @55% per slab | Rs.17336.25 +for the basic pension in excess of Rs.1250 @1128.05% |
Basic pension from 2001 to 2130 (130)@33% per slab | 25875 +683.10 % for BP over 2000 |
Basic pension from 2131 above @17% per slab | 26763.03 +351.90% for BP over 2130 |
Note : on @100% neutralization after DFS approval : DA for the entire basic pension @ 1387.06 % or multiply your entire basic pension@ 13.8706 |
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