In terms of clause 13 of the 9th Joint Note between IBA & Officer’s Association and clause 36 of the 12th Bipartite Settlement between IBA and Workmen Union, states regarding the payment of
Ex-gratia for pensioners/family pensioners, who became eligible to draw a pension on or before 31.10.2022 including those who retired on 31.10.2022.
Ex gratia amount payable to Bank pensioners/family pensioners shall be the Basic pension attracting DA/DR + DA/DR paid for October 2022 multiplied by the Factor as provided in the below table after round up/down. To round up / down to the nearest 100, (i.e., 49 and below shall be rounded down to a lower hundred, and 50 and above shall round up to a higher hundred).
[Dearness relief chart applicable as of October 2022 is attached below.]
Basic Pension would mean the full basic pension as of 31st October 2022 (not the reduced basic pension after commutation).
For the Part-time Employees, the ex-gratia amount payable shall be based on the Basic Pension drawn by them and DA/DR applicable on the Basic Pension.
The Ex-gratia amount shall not attract any other allowance including DA/DR.
The Ex-gratia amount payable shall be the Basic Pension attracting DA/DR +
DA/DR paid for October 2022 multiplied by the factor Chart provided by IBA)), after rounding up/down to the nearest 100.
• The Ex-gratia amount is fixed for the period between 01.11.2022 and 31.10.2027 and shall be payable from November 2022 onwards.
| Retired during the period | Exgratia factor |
| Workmen retired during 1.1.86 to 31.10.92 Officers retired during 1.1.86 to 30.06.93 | 0.17 |
| Workmen retired during 1.11.92 to 31.03.98 Officers retired during 1.7.93 to 31.03.98 | 0.15 |
| Workmen/Officers retired during 1.04.98 to 31.10.2002 | 0.12 |
| Workmen /Officers retired during 1.11.2002 to 31.10.2007 | 0.07 |
| Workmen /Officers retired during 1.11.2007 to 31.10.2012 | 0.05 |
| Workmen/Officers retired during 1.11.2012 to 31.10.2017 | 0.03 |
| Workmen/Officers retired during 1.11.2017 to 31.10.2022 | 0.02 |
The Consumer Price Index for April, May, and June 2022 are respectively- 127.70, 129, and 129.20. Based on these average index numbers, the DR (Dearness Relief) Rate is calculated below for the half year August to January 2023.
- Retired on or after 1.11.2017: Average index: 8456 – 6352= 2104= 526 slabs
| No of slabs | Rate per Slab @ | Percentage of DR payable | DR payable on Basic Pension (Before commutation) |
| 526 | 0.07 | 36.82 % | Basic Pension × 36.82 % |
- Retired on or after 1.11.2012: Average index: 8456 -4440 points (1004 slabs)
| No of slabs | Rate per Slab @ | Percentage of DR payable | DR on Basic Pension (Before commutation) |
| 1004 | 0.10 | 100.40% | Basic Pension ×100.40% |
- Retired on or after 1.11.2007 up to 31.10.2012: Average index 8456-2836 points (1405 slabs)
| No of slabs | Rate per Slab | Percentage of DR payable | DR payable on Basic Pension (Before commutation) |
| 1405 | 0.15 | 210.75% | Basic Pension× 210.75 % |
- Retired on or after 1.11.2002 and up to 31.10.2007 Average index 8456-2288 (1542 slabs)
| No of slabs | Rate per Slab | Percentage of DR payable | DR on Basic Pension (Before commutation) |
| 1542 | 0.18 | 277.56% | Basic Pension × 277.56 % |
Retired between 1.1.86 to 31.10.1992/30.6.93
upto 1250 @ 0.67%/slab= 1357.42%
1251 to2000 @ 0.55% = 1114.30%
2001 t0 2130@ 0.33% = 668.58%
>2130 @0.17% = 344.42%
Retired between 1.11.92 to 31.03.98
upto 2400 @ 0.35%= 661.15%
2401 -3850 @0.29% =547.81
3851-4100 @0.17% =321.13%
above 4100 @ 0.09%= 170.01%
Retired between 1.4.98 to 31.10.2002
up to 3550 @0.24% = 421.20%
3551 -5650 @0.20% = 351.00%
5651-6010 @0.12% = 210.60%
above 6010 @ 0.06%= 105.30%
Encl:
