Consumer Price Index for October 2023, November 2023, and December 2023 are respectively- 138.40, 139.10, and 138.80. It works out to 61 slabs of additional DR for the half year February 2024 to July 2024. Pending amendments to Pension Regulations, Banks may pay the Dearness Relief payable to pensioners for the half-year period February 2024 to July 2024 as below.
Retired on or after 1.11.2017:
No of slabs
Rate per Slab @
Percentage of DR payable
DR payable on Basic Pension (Before commutation)
693
0.07
48.51 %
Basic Pension ×48.51 % or basic ×0.48.51 Increase: 4.27%
Retired on or after 1.11.2012:
No of slabs
Rate per Slab @
Percentage of DR payable
DR on Basic Pension (Before commutation)
1171
0.10
117.10%
Basic Pension ×114.50% or Basic ×1.1145 (increase of 6.10%)
Retired on orafter 1.11.2007 up to 31.10.2012:
No of slabs
Rate per Slab
Percentage of DR payable
DR payable on Basic Pension (Before commutation)
1572
0.15
235.80 %
Basic Pension× 235.80 % or Basic Pension× 2.358 (increase of 9.15%)
Retired on or after 1.11.2002 and up to 31.10.2007 Average index 8881-2288=6593 points (1648 slabs)
No of slabs
Rate per Slab
Percentage of DR payable
DR on Basic Pension (Before commutation)
1709
0.18
307.62%
Basic Pension× 307.62 % or Basic Pension× 3.0762 (an increase of 10.98%)
Dearness Relief on Basic pension /family pension and Exgratia are payable from February 2024 to July 2024.
• Retired on or after 1.1.86 and before 1st November 1992/1st July 1993 and before 01.11.2002
No of slabs
Rate per Slab
Percentage of DR payable
DR on Basic Pension (Before commutation)
2131
0.67
1427.77%
Basic Pension× 1427.77 % or Basic Pension× 14.2777(increase of 40.87%)
Retired on or after 1.11.92/1.7.93 up to 31.3.98
No of slabs
Rate per Slab
Percentage of DR payable
DR on Basic Pension (Before commutation)
1994
0.35
697.90%
Basic Pension× 697.90 % or Basic Pension× 69.79 (an increase of 21.35%)
• Retired on or after 01.04.1998 till 31.10.2002
No of slabs
Rate per Slab
Percentage of DR payable
DR on Basic Pension (Before commutation)
1860
0.24
446.40%
Basic Pension× 446.40 % or Basic Pension× 44.64 (increase of 14.64%)
Exgratia payable :
1.Retired on or after 1.1.86 and before 1st November 1992/1st July 1993 and before 01.11.2002
For basic pension/family pension up to Rs. 1250: Exgratia of Rs.800/- per month
For basic pension/family pension from Rs. 1251 and up to 2000/- : Exgratia of Rs.450/- per month
2. Retired on or after 1.11.92/1.7.93 up to 31.3.98
– For Basic Pension/Family Pension upto Rs. 2400/- exgratia of Rs.800 per month
For Basic Pension/Family Pension from 2401 and up to 3850: Exgratia at 450 per month 3. Retired on or after 01.04.1998 till 31.10.2002
3.Retired after 31.03.98 to 31.10.2002 For Basic Pension/Family Pension upto Rs3550 : Exgratia of Rs.800 per month
For Basic Pension/Family Pension from Rs.3551 to upto Rs 5650/- exgratia of Rs.450 per month
