Dearness Relief payable to Pensioners for the period February 2021 to July 2021

Dearness Relief payable to Pensioners for the period February 2021 to July 2021 – IBA Order dated 01.02.2021

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 India 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 April 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
(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 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
(ignore 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
(ignore 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)