Dearness Relief payable to Pensioners for the period August 2022 to January 2023: IBA
Dearness Relief payable to Pensioners for the period August 2022 to January 2023: IBA Order dated 01.08.2022
Indian Banks’ Association
HR & INDUSTRIAL RELATIONS
No.CIR/HR&IR/D/G2/2022-23/11416
August 1, 2022
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 2022 to January 2023
The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended June, 2022 are as follows:-
April 2022 – 8394.82
May 2022 – 8480.28
June 2022 – 8493.43
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 2022 to January 2023 as per Annexure.
Yours faithfully,
Brajeshwar Sharma
Senior Advisor (HR&IR)
Encl.
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 August 2022 to January 2023 Average Index | Slabs 1964 8456 |
|
| (i) | Upto Rs.1250 | 1315.88 per cent. | |
| (ii) | Rs.1251 to Rs.2000 | Rs. 16448.50 plus 1080.20 percent of basic pension in excess of Rs.1250.00 | |
| (iii) | Rs.2001 to Rs.2130 | Rs. 24550.00 plus 648.12 percent of basic pension in excess of Rs.2000.00 | |
| (iv) | Above Rs.2130 | Rs. 25392.55 plus 333.88 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 August 2022 to January 2023 Average Index | Slabs 1827 8456 |
|
| (i) | Upto Rs.2400 | 639.45 per cent. | |
| (ii) | Rs.2401 to Rs.3850 | Rs. 15346.80 plus 529.83 percent of basic pension in excess of Rs.2400.00 | |
| (iii) | Rs.3851 to Rs.4100 | Rs. 23029.33 plus 310.59 percent of basic pension in excess of Rs.3850.00 | |
| (iv) | Above Rs.4100 | Rs. 23805.80 plus 164.43 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 August 2022 to January 2023 Average Index | Slabs 1693 8456 |
|
| (i) | Upto Rs.3550 | 406.32 per cent. | |
| (ii) | Rs.3551 to Rs.5650 | Rs. 14424.36 plus 338.60 percent of basic pension in excess of Rs.3550.00 | |
| (iii) | Rs.5651 to Rs.6010 | Rs. 21534.96 plus 203.16 percent of basic pension in excess of Rs.5650.00 | |
| (iv) | Above Rs.6010 | Rs. 22266.33 plus 101.58 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 June 2022 | 8456 |
| No. of Slabs | 1542 |
| Rate of dearness relief on pension for the months August 2022 to January 2023 | 277.56 % of basic pension |
| (ignore 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 June 2022 | 8456 |
| No. of Slabs | 1405 |
| Rate of dearness relief on pension for the months August 2022 to January 2023 | 210.75 % of basic pension |
| (ignore decimals from 3rd place onwards) | |
Source: IBA
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