Historical step motherly treatment of pensioners.
Pension & Dearness Relief clauses in 7th - 9th Bi-partite Settlements.
7th Bipartite Settlement ( Effective from 01.11.1997)
# 7. Dearness Allowance
In Substitution of Clause 6 of Bipartite Settlement dated 14th February, 1995 with effect from 1st November,1997 the dearness allowance shall be payable as per the following rates :-
(i) Subordinate Staff
0.24% of ‘Pay’
(ii) Clerical Staff
a) 0.24% of ‘pay’ upto Rs. 7100/- plus
b) 0.20% of ‘pay’ above Rs. 7100/- and upto Rs. 11, 300/- plus
c) 0.12% of ‘pay’ above Rs. 11, 300/-
Note :
(a) Dearness Allowance in the above manner shall be paid for every rise or fall of 4 points over 1684 points in the quarterly average of the All India Average Working Class Consumer Price Index (General) Base 1960 = 100.
(b) It is clarified that there shall be no ceiling on Dearness Allowance.
(c) Dearness Allowance shall be calculated and paid on Basic Pay, Special Pay, Graduation Pay, Professional Qualification Pay and Officiating Pay, if any, payable under this settlement in respect of both clerical and subordinate staff.
(d) All other existing provisions relating to Dearness Allowance Scheme shall remain unchanged.
# 16. Pension
In relation to an employee who retires or dies while in service on or after the 1st day of April, 1998 ‘Pay’ for the purpose of Pension shall be the aggregate of the pay drawn by the member of award staff in terms of the sixth Bipartite Settlement dated 14th, February, 1995 and the dearness allowance thereon calculated upto index number 1616 points in All India Average Consumer Price Index for Industrial Workers in the series 1960=100. This shall be subject to the necessary amendments to be made to the relevant provisions of Bank (Employees) Pension Regulations, 1995.
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8th Bipartite Settlement (Effective from 01.11.2002)
# 6. Definition of ‘Pay’
‘Pay’ for the purpose of D.A., HRA and superannuation benefits shall mean Basic Pay, Stagnation increments, Special Pay, Graduation Pay, Professional Qualification Pay and Officiating Pay, if any.
Note: The increment component of Fixed Personal Pay as given in column 2 of Schedule IV shall rank for superannuation benefits.
# 7. Dearness Allowance
In substitution of Clause 7 of Bipartite Settlement dated 27th March 2000 with effect from 1st November 2002, the dearness allowance shall be payable as per the following rates:-
1. (i) Subordinate Staff
0.18% of ‘pay’
(ii) Clerical Staff
(a) 0.18% of ‘pay’ upto Rs.9,650/- plus
(b) 0.15% of ‘pay’ above 9,650/- and upto Rs.15,350/- plus
(c) 0.09% of ‘pay’ above 15,350/- and upto Rs.16,350/- plus
(d) 0.04% of ‘pay’ above Rs.16,350/-
2. On and from 1st February 2005, Dearness Allowance shall be payable at 0.18% of Pay.
Note: Dearness Allowance in the above manner shall be paid for every rise or fall of 4 points over 2288 points in the quarterly average of the All India Average Working Class Consumer Price Index (General) Base 1960=100.
# 16. Pension (in Banks other than State Bank of India)
In respect of an employee other than the employee in State Bank of India, who is a member of the Pension Fund, who retires or dies while in service or otherwise ceases to be in employment on or after the 1st May 2005, ‘Pay’ for the purpose of pension shall be the pay as in clause 6 of this settlement. This shall be subject to the necessary amendments to be made to the relevant provisions of Bank (Employees’) Pension Regulations, 1995.
Blogger’s comments; Anomaly in respect of pension fixation under 7th Bi-partite Settlement was corrected in 8th Bi-partite Settlement.
It is noteworthy that the 8th Bi-partite Settlement does not create separate classes of retirees for 100% neutralization of Dearness Relief w.e.f. 01.02.2005. However IBA for the reasons best known to them did not release 100% DR neutralization for pre 01.11.2002 retirees. Subsequently, in 9th Bi-partite Settlement, following classes of retirees were created effective from back date i.e. 01.05.2005.
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9th Bipartite Settlement (Effective from 01.11.2007)
# 7. Dearness Allowance
In substitution of Clause 7 of Bipartite Settlement dated 2nd June 2005 with effect from 1st November 2007, the dearness allowance shall be payable as per the following rates:-
Clerical and Subordinate Staff
0.15% of „pay‟
Note: Dearness Allowance in the above manner shall be paid for every rise or fall of 4 points over 2836 points in the quarterly average of the All India Average Working Class Consumer Price Index (General) Base 1960=100.
(a) It is clarified that there shall be no ceiling on Dearness Allowance.
(b) Dearness Allowance shall be calculated and paid on Basic Pay, Special Pay, Graduation Pay, Professional Qualification Pay and Officiating Pay, if any, payable under this settlement in respect of both clerical and subordinate staff.
(c) All other existing provisions relating to Dearness Allowance Scheme shall remain unchanged.
# 16. Pension (in Banks other than State Bank of India)
1. It is agreed between the parties that the terms of the Bank Employees‟ Pension Regulations, 1995 dated 29th September 1995/ 26th March 1996 shall not apply to the employees who join the services of Banks on or after 1st April 2010; and they shall be covered by a Defined Contributory Pension Scheme, which shall be governed by the provision of the Contributory Pension Scheme introduced for employees of the Central Government w.e.f. 1st January 2004, and as modified from time to time. Necessary amendments to the relevant provisions of the Bank Employees‟ Pension Regulations, 1995 dated 29th September 1995/ 26th March 1996 shall be carried out following the procedure in this regard.
2. Further to Clause 6 of the Bipartite Settlement dated 2nd June 2005, it is agreed between the parties as under:
(i) With effect from 1st May 2005, the pension of employees who retired or died while in service during the period 1st April 1998 to 31st October 2002 will be re-fixed based on the definition of „Pay‟ as defined in Clause 6(ii) of the Bipartite Settlement dated 27th March 2000. No arrears of pension and commuted value of pension will be payable on account of such re-fixing of pension.
(ii) With effect from 1st May 2005, the pension of employees who retired or died while in service during the period 1st November 2002 to 30th April 2005 will be re-fixed based on the definition of „Pay‟ as defined in Clause 6 of the Bipartite Settlement dated 2nd June 2005. No arrears of pension or commuted value of pension will be payable on account of such re-fixation of pension.
3. Further to Clause 7(2) of the Bipartite Settlement dated 2nd June 2005, it is agreed between the parties as under:
(i) On and from 1.5.2005, in the case of employees who retired during the period 1.4.1998 to 31.10.2002, dearness relief shall be payable for every rise or be recoverable for every fall, as the case may be, of every 4 points over 1684 points in the quarterly average of the All India Average Consumer Price Index for Industrial Workers in the series 1960=100. Such increase or decrease in dearness relief for every said four points shall be calculated in the manner given below:
(ii) In respect of retirees for the period 1.11.2002 to 30.4.2005 for whom pension has been revised w.e.f. 1.5.2005 based on definition of pay in terms of Clause 6 of the Bipartite Settlement dated 2nd June 2005, dearness relief shall be payable w.e.f. 1.5.2005 for every rise or be recoverable for every fall as the case may be of every four points over 2288 points in the quarterly average of All India Average Consumer Price Index for Industrial Workers in the series 1960=100 @ 0.18% of the basic pension.
(iii) In respect of employees who retire on or after 1.5.2005, dearness relief shall be payable for every rise or be recoverable for every fall, as the case may be, of every four points over 2288 points n the quarterly average of the All India Average Consumer Price Index for Industrial Workers in the series 1960=100, at the rate of 0.18 per cent of basic pension.
(iv) In respect of employees who retired or died while in service on or after 1.05.2005 Dearness Relief shall be payable at 0.18% of the basic pension or family pension or invalid pension or compassionate allowance as the case may be. Dearness Relief in the above manner shall be paid for every rise or fall of 4 points over 2288 points in the quarterly average of the All India Average Consumer Price Index for industrial workers in the series 1960 = 100.
Note: The Dearness Relief as above shall be payable for the half year commencing from the 1st day of February and ending with 31st day of July on the quarterly average of index figures published for the months October, November and December of the previous year and for the half year commencing from 1st day of August and ending with the 31st day of January on the quarterly average of the index figures published for the months of April, May and June of the same year.
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