UNIFORM DA FOR ALL BANK PENSIONERS -- FOR INTERVIEW GUIDANCE WAPP 900303...
Source: https://www.facebook.com/groups/2291998157483772/posts/9795095603840619/
Uniform DA for all pensioners at par with 12th bps retirees:
Hitherto dearness allowance of the banking staff depends upon consumer price index rise/fall of 4 points (slab system). To make it more realistic , GOI changed the base year 1960 to 1981, 2001 & 2016 from time to time. The following multiplying factors were assigned to get uniformity:
- 1960 to 1981 = 4.93
- 1981 to 2001 = 4.63
- 2001 to 2016 = 2.88
The DA formula is same for existing as well as retirees till recently. However during 12th bps this formula has been changed. DA was merged at 8088 points(30.38%). Slab system has been abolished and a new formula is being implemented. Taking average cpi at 8088 points i.e. 123.03 it is assigned 1% for every rise/fall of 1 point cpi.
This new DA formula is made applicable only to existing staff as well as retirees of 1.11.2022 afterwards. This created a division among the retirees like pre 2002 retirees.
Infact to implement uniform DA formula for all, the basic pension of retirees covered under various bps should be made uniform. The multiplying factors works out as under:
- 11th bps. (1.11.2017 to 31.10.2022) 1.30
- 10th bps (1.11.2012 to 31.10.2017) 1.93
- 09th bps.(1.11.2007 to 31.10.2012) 3.09
- 08th bps.(1.11.2002 to 31.10. 2007) 3.85
- 07th bps. (1.11.2007 to 31.10.2002) 5.24
- 06th bps.(1.11.86 to 31.10.1992) 7.70
- 05th bps. (Prior to 1986) 14.77
If new formula is implemented, there will be an increase of Rs. 800/- to 5000/- per person based on the retirement year and basic pension. Please see the following example of my pension retired in may 2014 (10th bps): (THIS IS OF ANOTHER PENSIONER NOT MINE)
Existing formula:
Basic pension Rs. 28590
DA. 119.4%. Rs. 34136
Exgratia. Rs. 1700
Total. Rs. 64426
Less: commute Rs. 9530
Pension Rs. 54896
As per new formula.
Basic 28590×1.93 = 55179
New DA. 17.20%. = 9491
Exgratio. =. 1700
Gross. = 66370
Less commute. = 9530
Pension =. 56840
Benefit = 56840 - 54896
=. 1944
So I will get a benefit of Rs.1944 per month if new formula is implemented. In otherwards, I am loosing Rs. 1944 per month. This amount will increase further as and when the DA is increased.
In the same way everybody can calculate the same.
As per the pension regulations all retirees should get DA at par with existing employees. However 12th bps devide the retirees in to two groups. The implementation of new formula to all retirees is identified as a residual issue. However nothing was discussed on this issue when IBA and UFBU last met.
Hope that the mater will be settled and implemented at the earliest. As otherwise BB injustice will be done to retirees of pre 12th bps like it was done earlier in case of pre 2002 retirees (100% da neutralization).
JULY 2001 – PENSION X 5.24
NEW DA 17.2%
EX GRATIA RS.4000
ROUGHLY RS. 5000 INCREASE
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