Dearness Relief payable to Bank Pensioners for the period February 2024 to July 2024: Implementation of DR neutralization and Ad Hoc Payment: IBA Order dated 16.02.024
Dearness Relief payable to Bank Pensioners for the period February 2024 to July 2024: Implementation of DR neutralization and Ad Hoc Payment: IBA Order dated 16.02.024
Indian Banks’ Association
HR & INDUSTRIAL RELATIONS
No.CIR/HR&IR/D/G2/2023-24/835
February 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 February 2024 to July 2024
Please refer to our Circular No.CIR/HR&IR/D/G2/2023-24/8 16 dated 7.02.2024. wherein we had provided the rates at which Dearness Relief payable to Pensioners / family pensioners, for the period of February 2024 to July 2024, after implementation of DR neutralization for pre-November 2002 retirees / family pensioners.
2. To facilitate those who are yet to implement our letter HR&IR/MBR/G2/0533 dated 16.10.2023, in addition to the contents of our above mentioned circular dated 07.02.2024, they may pay on ad hoc basis (Pending amendments to Pension Regulations), the Dearness Relief payable to pensioners for the period February 2024 to July 2024 as per Annexure.
Yours faithfully,
Brajeshwar Sharma
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,1992/1st July, 1993 | |||
| BASIC PENSION | Dearness relief for the months February 2024 to July 2024 | Slabs 2131 | |
| Average Index | 9122.33 | ||
| (i) | Upto Rs.1250 | 1427.77 per cent. | |
| (ii) | Rs.1251 to Rs.2000 | Rs. 17847.12 plus 1172.05 percent of basic pension in excess of Rs.1250.00 | |
| (iii) | Rs.2001 to Rs.2130 | Rs. 26637.49 plus 703.23 percent of basic pension in excess of Rs.2000.00 | |
| (iv) | Above Rs.2130 | Rs. 27551.68 plus 362.27 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 February 2024 to July 2024 | Slabs 1994 | |
| Average Index | 9122.33 | ||
| (i) | Upto Rs.2400 | 697.90 per cent. | |
| (ii) | Rs.2401 to Rs.3850 | Rs. 16749.60 plus 578.26 percent of basic pension in excess of Rs.2400.00 | |
| (iii) | Rs.3851 to Rs.4100 | Rs. 25134.37 plus 338.98 percent of basic pension in excess of Rs.3850.00 | |
| (iv) | Above Rs.4100 | Rs. 25981.82 plus 179.46 percent of basic pension in excess of Rs.4100.00 | |
| PART- III | |||
| Dearness Relief to pensioners who retired on or after 1st day of April,1998. | |||
| BASIC PENSION | Dearness relief for the months February 2024 to July 2024 | Slabs 1860 | |
| Average Index | 9122.33 | ||
| (i) | Upto Rs.3550 | 446.4 per cent. | |
| (ii) | Rs.3551 to Rs.5650 | Rs. 15847.20 plus 372.00 percent of basic pension in excess of Rs.3550.00 | |
| (iii) | Rs.5651 to Rs.6010 | Rs. 23659.20 plus 223.2 percent of basic pension in excess of Rs.5650.00 | |
| (iv) | Above Rs.6010 | Rs. 24462.72 plus 111.6 percent of basic pension in excess of Rs.6010.00 | |
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