Govt. clears 100 % Dearness Relief to pre- November 2002 Retirees effective October 2023

On Thursday (05.10.2023), DFS (Govt of India) cleared 100% D.R (Dearness Relief) to pre-1-11-2002 Retirees. It will be effective from 1st October 2023. No arrears shall be payable for the periods falling prior to the effective date.

The 100% Dearness neutralization would benefit about 1,80,000 pensioners who retired from the Banks including from SBI prior to 1-11-2002.

Dearness Relief on Basic pension /family pension payable from 1.10.2023 to 31.01.2024  are as under.

•             Retired on or after 1.1.86 and before 1st November 1992/1st July 1993 and before 01.11.2002

Average index number 8881- 600= 8281 points (2070 slabs) @ 0.67% per slab,

Revised DR payable on entire basic @ 1386.90%

•             Retired on or after 1.11.92/1.7.93 up to 31.3.98

 Average index 8881-1148=7733 points (1933 slabs) @ 0.35% per slab

Revised DR payable on entire basic @ 676.55%

•             Retired on or after 01.04.1998 till 31.10.2002 

Average index number8881-1684= (1799 slabs) @ 0.24% per slab

Revised DR payable on entire basic @ 411.76%

Additional 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 

For Basic Pension/Family Pension up to Rs3550: Exgratia of Rs.800 per month

For Basic Pension/Family Pensionfrom Rs.3551 to upto Rs 5650/- exgratia of Rs.450 per month

It is notified that Rs.800 and Rs.450 per month as exgratia amount, as a standalone benefit which will not attract any DR to pensioners/family pensioners falling under 1st slab of basic pension and drawing highest DR, and 2nd slab of basic pension attracting the second highest DR in the present framework respectively. The exgratia amount shall be absorbed in future changes in pension structure, if any and