Dearness Relief, DR hike of Bank Pensioners from Feb 2022 to July 2022

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The AICPIN – IW (All-India Consumer Price Index Number – Industrial Workers) for December 2021 has been released on 31.01.2022, the last working day of January month, by Labour Bureau, under Ministry of Labour and Employment.

Based on the AICPIN of October, November and December 2021, Dearness Relief (DR) hike from Feb 2022 to July 2022 has been calculated here. Also, the official circular and exact hike of DA has been declared by IBA on 01.02.2022, for all types of bank pensioners.

Major Contents in the Post: (Jump to the Section)

  1. DA, DR payable to Bank Pensioners for period Feb 2022 to July 2022
  2. Slab Calculation or formula of DR payable to Bank Pensioners
  3. DR for Bank Pensioners retired on or after 01.11.2017
  4. DR for Bank Pensioners retired between 01.11.2012 to 31.10.2017
  5. DR for Bank Pensioners retired between 01.11.2007 to 31.10.2012
  6. DR for Bank Pensioners retired between 01.11.2002 to 31.10.2007
  7. DR for Bank Pensioners retired between 01.04.1998 to 31.10.2002
  8. DR for Bank Pensioners retired between 01.11.1992 / 01.07.1993 to 31.03.1998
  9. DR for Bank Pensioners retired between 01.01.1986 to 31.10.1992 / 30.06.1993
  10. DR for Bank Pensioners, who has survived pre-01.01.1986 retirees of banks

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Slab and rate of DR of Bank Pensioners for duration from February 2022 to July 2022:

DR slab and rate of Dearness Relief are shown below for all kinds of retirement date range, for the period from February 2022 to July 2022.

DR from Feb to July 2022 for all Bank pensioners, retired between 01.11.2002 to 01.11.2017
DR from Feb to July 2022 for all Bank pensioners, retired between 01.11.2002 to 01.11.2017
DR from Feb to July 2022 for all Bank pensioners, retired between 01.01.1986 to 31.10.2002
DR from Feb to July 2022 for all Bank pensioners, retired between 01.01.1986 to 31.10.2002

Bank pensioners DA, DR rate hike payable from Feb’22 to Jul’22 by IBA:

  1. DA, DR rate for bank pensioners will increase to 32.97%, hike of 5.18%, who retired after 01.11.2017.
  2. DA, DR rate for bank pensioners will increase to 94.90%, hike of 7.40%, who retired between 01.11.2012 to 31.12.2017.
  3. DA, DR rate for bank pensioners will increase to 202.50%, hike of 11.10%, who retired between 01.11.2007 to 31.12.2012.
  4. DA, DR rate for bank pensioners will increase to 267.66%, hike of 13.32%, who retired between 01.11.2002 to 31.12.2007.
  5. DA, DR rate for bank pensioners will be hiked by 17.76/14.80/8.88/4.44% as per their basic scale, who retired between 01.11.1998 to 31.12.2002.
  6. DA, DR rate for bank pensioners will be hiked by 25.90/21.46/12.58/6.66% as per their basic scale, who retired between 01.11.1992 / 01.07.1993 to 31.03.1998.
  7. DA, DR rate for bank pensioners will be hiked by 49.58/40.70/24.42/12.58% as per their basic scale, who retired between 01.01.1986 to 31.10.1992 / 30.06.1993.

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Dearness Relief, DR of Bank Pensioners for period Feb 2022 to July 2022:

Government of India had released average AICPIN for October 2021, November 2021, December 2021. With these ‘All India Average Consumer Price Index Number for Industrial Workers’ (AICPIN-IW), the Dearness Relief for Bank Pensioners has been declared for the period from February 2022 to July 2022 by Indian Banks Association (IBA) in addition to DA for bank’s working employees.

The Rate of Dearness Relief (DR) on pension has been declared 32.97% for Bank Pensioners, who retired on or after 01.11.2017. This increase in Dearness Relief (DR) are payable to pensioners of IBA’s member banks under regulation 37 of Bank Employees’ Pension Regulations.

IBA has also advised banks to pay on ad hoc basis the DR to the pensioners for period February 2022 to July 2022 , due to pending amendments in Pension Regulations.

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DR hike for Bank Pensioners from Feb 2022 to July 2022 for all retirees circular by IBA
DR hike for Bank Pensioners from Feb 2022 to July 2022 for all retirees circular by IBA

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IBA order regarding DR of Bank Pensioners for period February 2022 to July 2022 : (DR Official order – IBA website)

DR hike for Bank Pensioners from Feb 2022 to July 2022 for all retirees circular by IBADownload

Dearness Relief (DR) for Bank Pensioners, who retired on or after 01.11.2017, Part – VII:

DR for Bank Pensioners during period Feb 2022 to July 2022:

  • Average Quarterly AICPIN Index : 8239,
  • Slabs = (8239-6352)/4 = 471,
  • DR Rate per slab = 0.07 % of Slab = 471 x 0.07 % = 32.97%
Dearness Relief (DR) payable to Bank Pensioners for period Feb 2022 to July 202232.97 % of Basic Pension
DR for Bank Pensioners, who retired on or after 01.11.2017

Dearness Relief (DR) for Bank Pensioners, who retired on or after 01.11.2012 and up to 31.10.2017, Part – VI:

DR for Bank Pensioners during period Feb 2022 to July 2022:

  • Average Quarterly AICPIN Index : 8239,
  • Slabs = (8239-4440)/4 = 949,
  • DA Rate per slab = 0.1 % of Slab = 949 x 0.1 % = 94.9%
Dearness Relief (DR) payable to Bank Pensioners for period Feb 2022 to July 202294.9% of Basic Pension
DR for Bank Pensioners, who retired on or after 01.11.2012 and up to 31.10.2017

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Dearness Relief (DR) for Bank Pensioners, who retired on or after 01.11.2007 and up to 31.10.2012, Part – V:

DR for Bank Pensioners during period Feb 2022 to July 2022:

  • Average Quarterly AICPIN Index : 8239,
  • Slabs = (8239-2836)/4 = 1350,
  • DA Rate per slab = 0.15 % of Slab = 1350 x 0.15 % = 202.50%
Dearness Relief (DR) payable to Bank Pensioners for period Feb 2022 to July 2022202.50% of Basic Pension
DR for Bank Pensioners, who retired on or after 01.11.2007 and up to 31.10.2012

Dearness Relief (DR) for Bank Pensioners, who retired on or after 01.11.2002 and up to 31.10.2007, Part – IV:

DR for Bank Pensioners during period Feb 2022 to July 2022:

  • Average Quarterly AICPIN Index : 8239,
  • Slabs = (8239-2288)/4 = 1487,
  • DA Rate per slab = 0.18 % of Slab = 1487 x 0.18 % = 267.66%
Dearness Relief (DR) for period Feb 2022 to July 2022267.66% of Basic Pension
DR for Bank Pensioners, who retired on or after 01.11.2002 and up to 31.10.2007

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Dearness Relief (DR) for Bank Pensioners, who retired on or after 01.04.1998 and up to 31.10.2002, Part – III:

DR for Bank Pensioners during period Feb 2022 to July 2022:

  • Average Quarterly AICPIN Index : 8239,
  • Slabs = (8239-1685)/4 = 1638,
  • DA Rate per slab (respectively in order) =
    1. 0.24 % of Slab = 1638 x 0.24 % = 393.12%
    2. 0.20 % of Slab = 1638 x 0.20 % = 327.60%
    3. 0.12 % of Slab = 1638 x 0.12 % = 196.56%
    4. 0.06 % of Slab = 1638 x 0.06 % = 98.28%
Basic PensionDearness Relief (DR) for period Feb 2022 to July 2022
Up to ₹ 3,550393.12%
₹ 3,551 to ₹ 5,650₹ 13955.76 + 327.60% (of basic pension in excess of ₹ 3,550)
₹ 5,651 to ₹ 6,010₹ 20835.36 + 196.56% (of basic pension in excess of ₹ 5,650)
Above ₹ 6,010₹ 21542.97 + 98.28% (of basic pension in excess of ₹ 6,010)
DR for Bank Pensioners, who retired on or after 01.04.1998 and up to 31.10.2002

Dearness Relief (DR) for Bank Pensioners, who retired on or after 01.11.1992 / 01.07.1993 and up to 31.03.1998, Part – II:

DR for Bank Pensioners during period Feb 2022 to July 2022:

  • Average Quarterly AICPIN Index : 8239,
  • Slabs = (8239-1148)/4 = 1772,
  • DA Rate per slab (respectively in order) =
    1. 0.24 % of Slab = 1772 x 0.35 % = 620.20%
    2. 0.20 % of Slab = 1772 x 0.29 % = 513.88%
    3. 0.12 % of Slab = 1772 x 0.17 % = 301.24%
    4. 0.06 % of Slab = 1772 x 0.09 % = 159.48%
Basic PensionDearness Relief (DR) for period Feb 2022 to July 2022
Up to ₹ 2,400620.20%
₹ 2,401 to ₹ 3,850 ₹ 14884.80 + 513.88% (of basic pension in excess of ₹ 2,400)
₹ 3,850 to ₹ 4,100₹ 22336.06 + 301.24% (of basic pension in excess of ₹ 3,850)
Above ₹ 4,100₹ 23089.16 + 159.48% (of basic pension in excess of ₹ 4,100)
DR for Bank Pensioners, who retired on or after 01.11.1992 / 01.07.1993 and up to 31.03.1988

Dearness Relief (DR) for Bank Pensioners, who retired on or after 01.01.1986 and up to 31.10.1992 / 30.06.1993, Part-I:

DR for Bank Pensioners during period Feb 2022 to July 2022:

  • Average Quarterly AICPIN Index : 8239,
  • Slabs = (8239-600)/4 = 1909,
  • DA Rate per slab (respectively in order) =
    1. 0.24 % of Slab = 1909 x 0.67 % = 1279.03%
    2. 0.20 % of Slab = 1909 x 0.55 % = 1049.95%
    3. 0.12 % of Slab = 1909 x 0.33 % = 629.97%
    4. 0.06 % of Slab = 1909 x 0.17 % = 324.53%
Basic PensionDearness Relief (DR) for period Feb 2022 to July 2022
Up to ₹ 1,2501279.03%
₹ 1,251 to ₹ 2,000 ₹ 15987.87 + 1049.95% (of basic pension in excess of ₹ 1,250)
₹ 2,000 to ₹ 2,130₹ 23862.49 + 629.97 % (of basic pension in excess of ₹ 2,000)
Above ₹ 2,130₹ 24861.45 + 324.53% (of basic pension in excess of ₹ 2,130)
DR for Bank Pensioners, who retired on or after 01.01.1986 and up to 31.10.1992 / 30.06.1993

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Dearness Relief (DR) for Bank Pensioner, who has survived pre-01.01.1986 retirees of banks and surviving spouses of pre-01.01.1986 retirees:

DR hike from Feb to July 2022 to pre 1.1.1986 retirees and surviving spouses of pre 1.1.1986 retirees
DR order by IBA for Bank pensioners (pre-01.01.86 Retirees)

DR payable for period Feb 2022 to July 2022 are given below : Average Index : 8239

  1. Surviving pre-01.01.1986 retirees of banks
  2. Surviving spouses of pre-01.01.1986 retirees who are in receipt of Ex-gratia.
PensionersAmount of Ex-gratia per month (A)Rate of Dearness ReliefAmount of Dearness Relief per month (B)Total Ex-gratia amount including Dearness Relief per month (A+B)
pre-01.01.1986 retirees₹ 3501279.03%₹ 4477₹ 4827
Surviving spouses of pre-01.01.1986 retirees₹ 1751279.03%₹ 2238₹ 2413
DR for surviving pre-01.01.1986 retirees of banks and surviving spouses of pre-01.01.1986 retirees

DR Official order surviving pre-01.01.1986 – IBA website

DR hike from Feb to July 2022 to pre 1.1.1986 retirees and surviving spouses of pre 1.1.1986 retireesDownload

DR hike history of bank pensioners:

Period of DR hikeRetired after 01.11.2017 Retired between 01.11.12 to 31.10.17Retired between 01.11.07 to 31.10.12Retired between 01.11.02 to 31.10.07
Feb’22 to Jul’22 32.97(+5.18%) 94.90(+7.40%) 202.50(+11.10%) 267.66(+13.32%)
Aug’21 to Jan’22 27.79(+1.61%) 87.50(+2.30%) 191.40 (+3.45%) 254.34 (+4.14%)
Feb’21 to Jul’2126.18(+5.39%)85.20 (+ 7.70 %)187.95 (+ 11.55%)250.20 (+ 13.86%)
Aug’20 to Jan’21 20.7977.5176.4236.34
DR hike history of bank pensioners

How to calculate DR of bank pensioners? What is the formula of DR calculation of bank pensioners? Example:

Slab and rate calculation for DR of bank pensioners from Aug 2021 to Jan 2022:

  1. Jun 2021 AICPIN – 121.7 x 2.88 x 4.63 x 4.93 = 8000.39
  2. May 2021 AICPIN – 120.6 x 2.88 x 4.63 x 4.93 = 7928.07
  3. Apr 2021 AICPIN – 120.1 x 2.88 x 4.63 x 4.93 = 7895.20

For those pensioners, who retired after 01.11.2017, 6352 points of DA was merged with the ‘pay’ and DA rate was fixed at 0.07 % per DA slab. So, the calculation of Bank DR is:

  • Average of the quarter (Apr, May, Jun) = 7941.22 [(7895.20+7928.07+8000.39) / 3 = 7941]
  • Number of DA slabs = 7941– 6352= 1589/ 4 = 397 slabs
  • DA rate effective from 01.08.2021 = 27.79 % (0.07 % of 397), formula applicable for those pensioners, who retired on or after 01.11.2017.

Disclaimer: Kindly refer dpe.gov.in for any inconsistencies in rules, understandings and clarification.

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5 thoughts on “Dearness Relief, DR hike of Bank Pensioners from Feb 2022 to July 2022”

  4. DA oncrease for Bank pensioners will how much for month in terms of rupees and when it will be credited? before 31stcDecember?

    Reply

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