Dearness Relief payable to Bank Pensioners for the period February 2021 to July 2021: IBA Order
Indian Banks’ Association
HR & INDUSTRIAL RELATIONS
No.CIR/HR&IRJD/G2/2020-21/9589
February 1, 2021
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 February 2021 to July 2021
The confirmed All Ind ia Average Consumer Price Index Numbers for Industrial Workers (Base 1960= 100) for the quarter ended December 2020 are as follows:-
October 2020 7855.76
November 2020 7882.06
December 2020 7809.74
In terms of Regulation 37 of Bank Employees’ Pension Regulations, 1995 Dearness Relief is payable to pensioners at rates specified in Append ix 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 2021 to July 2021 as per Annexure.
Yours faithfully,
S K Kakkar
Senior Advisor (HR & IR)
| PART- I | |||
| Dearness Relief to pensioners who retired on or after 1st day of January,1986, but before the 1st day of November,1992(Workmen)/1st July, 1993 (Officers) | |||
| BASIC PENSION | Dearness relief for the months February 2021 to July 2021 Average Index |
Slabs 1812 7849 |
|
| (i) | Upto Rs.1250 | 1214.04 per cent | |
| (ii) | Rs.1251 to Rs.2000 | Rs. 15175.50 plus 996.60 percent of basic pension in excess of Rs.1250.00 | |
| (iii) | Rs.2001 to Rs.2130 | Rs. 22650.00 plus 597.96 percent of basic pension in excess of Rs.2000.00 | |
| (iv) | Above Rs.2130 | Rs. 23427.34 plus 308.04 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 (Workmen)/1st July, 1993 (Officers) |
|||
| BASIC PENSION | Dearness relief for the months February 2021 to July 2021 Average Index |
Slabs 1675 7849 |
|
| (i) | Upto Rs. 2400 | 586.25 per cent | |
| (ii) | Rs.2401 to Rs.3850 | Rs. 14070.00 plus 485.75 percent of basic pension in excess of Rs.2400.00 | |
| (iii) | Rs.3851 to Rs.4100 | Rs.21113.37 plus 284.75 percent of basic pension in excess of Rs.3850.00 | |
| (iv) | Above Rs.4100 | Rs. 21825.24 plus 150.75 percent of basic pension in excess of Rs.4100.00 | |
| PART- III | |||
| Dearness Relief to pensioners who retired on or after 1st day of Apri 1,1998 | |||
| BASIC PENSION | Dearness relief for the months February 2021 to July 2021 Average Index |
Slabs 1541 7849 |
|
| (i) | Upto Rs. 3500 | 369.84 per cent | |
| (ii) | Rs.3551 to Rs.5650 | Rs. 13129.32 plus 308.20 of basic pension in excess of Rs.3550.00 | |
| (iii) | Rs.5651 to Rs.6010 | Rs. 19601.52 plus 184.75 percent of basic pension in excess of Rs.5650.00 | |
| (iv) | Above Rs.601O | Rs. 20267.23 plus 92.46 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 December 2020 – 7849 | |||
| No. of Slabs – 1390 | |||
| Rate of dearness relief on pension for the months February 2021 to July 2021 250.20 % of basic pension |
|||
| (ianore decimals from 3rd place onwards) |
| PART- V | |||
| Dearness Relief to pensioners who retired on or after 1st day of November, 2007. | |||
| Average Index (CPI) for quarter ended December 2020 – 7849 | |||
| No. of Slabs – 125390 | |||
| Rate of dearness relief on pension for the months 187.95 % of basic February 2021 to July 2021 pension | |||
| (iqnore decimals from 3rd place onwards) |
| PART- VI | |||
| Dearness Relief to pensioners who retired on or after 1st day of November, 2012. | |||
| Average Index (CPI) for quarter ended December 2020 – 7849 | |||
| No. of Slabs – 852 | |||
| Rate of dearness relief on pension for the months February 2021 to July 2021 85.20 % of basic pension |
|||
| (ianore decimals from 3rd place onwards) |
| PART- VII | |||
| Dearness Relief to pensioners who retired on or after 1st day of November, 2017 | |||
| Average Index (CPI) for quarter ended December 2020 – 7849 | |||
| No. of Slabs – 374 | |||
| Rate of dearness relief on pension for the months February 2021 to July 2021 26.18 % of basic pension |
|||
| (ignore decimals from 3rd place onwards) |
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