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

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

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 monthsSlabs
August 2024 to January 20252154
Average Index9218.74
(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/-

 

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 monthsSlabs
August 2024 to January 20252017
Average Index9218.74
(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 monthsSlabs
August 2024 to January 20251883
Average Index9218.74
(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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