Dearness Relief payable to Pensioners for the period August 2018 to January 2019

Dearness Relief payable to Pensioners for the period August 2018 to January 2019

No.CIR/HR&IR/D/G2/2018-19/5575

August 1, 2018

Designated Officers of all Member Banks
which are parties to the Bipartite Settlement on Pension

Dear Sirs,

Dearness Relief payable to Pensioners for the period August 2018 to January 2019

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended June, 2018 are as follows:-

April 2018 – 6573.86
May 2018 – 6596.69
June 2018 – 6642.34

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 2018 to January 2019 as per Annexure.

Yours faithfully,

sd/-
S K Kakkar
Senior Advisor (HR&IR)

Source: IBA