Thursday, February 9, 2012

IBA released Dearness Relief for Bank pensioners

IBA has released Dearness Relief for Pensioners for the period from Feb 2012 to July 2012 for diiferent kind of pensioners depending upon date of retirement.
"The confirmed All India Average Consumer Price Index Numbers for Industrial Workers  (Base 1960=100) for the quarter ended December  2011 are as follows:- 
  October  2011  - 4519.52 
  November 2011 - 4542.35  
  December 2011 - 4496.70 
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 February 2012 to July 2012 as per Annexure...."
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