In case of doubt, in the matter of application of these regulations, regard may be had to the corresponding provisions of Central Civil Services Rules 1972 or Central Civil Services (Commutation of Pension) Rules, 1981 applicable for Central Government employees with such exceptions and modifications as the Bank, with the previous sanction of the Central Government , may from time to time determine.
P a g e 53 | 73 Appendix-I (See Regulation 35)
1. The formula for updating basic pension and additional pension in respect of employees who retired during the period 1.1.1986 to 31.10.1987 shall be as under :-
(1) A. (a) 50 percent. of first Rs.1000 of the average emoluments reckonable for pension.
Rs.______________ (A)
(b) 45 per cent. of next Rs.500 Rs.______________
(c) 40 per cent. of the average emoluments reckonable for pension exceeding Rs.1500 Total of (a+b+c) Rs.______________ B. 50 per cent. of the average monthly emoluments for the last 10 months in service prior to retirement Rs.______________ B.
C. Dearness Relief at index number 600 in the All India Average Consumer Price Index for Industrial Workers in the series 1960=100, on basic pension calculated at (A) above, as per Table given below.
Rs.______________ C.
D. Total basic pension 4 = (B)+(C) x Number of years of qualifying service (Maximum 33 years) 33 Rs.______________ D.
E. Basic pension as on 1.11:1993 (Rounded off to the next higher rupee) Rs.______________ E.
P a g e 54 | 73
(2) Special allowances to the extent of the amount ranking for making contributions to the Provident Fund in terms of the Bipartite Settlement dated 10th April, 1989 or Officers’ Service Regulations, as the case may be, corresponding to the special allowances drawn at the time of retirement shall be reckoned for the purpose of additional pension.
TABLE .
Rates of dearness relief worked out at index number 600 in the All India Average Consumer Price Index for Industrial Workers in the series 1960=100 for all classes of employees who retired during the period 1.1.1986 to 31.10.1987:
(a) Employees in subordinate staff cadre 80.40 per cent. of pension calculated at A above
(b) Employees in clerical staff cadre drawing pension upto Rs. 756/- per month.
67 per cent of pension calculated at A above
(c) Employees in clerical staff cadre drawing pension upto Rs. 757/-per month and above will be eligible for dearness relief as under:
AMOUNT OF BASIC PENSION DRAWN PER MONTH (Rs.)
THE AMOUNT OF DEARNESS RELIEF ADMISSIBLE (Rs.)
757 -796 508.00 797-804 534.00 805-824 540.00 825-844 553.00 845-864 567.00 865-884 580.00 885-904 593.00 905-924 607.00 925-944 620.00 945-964 634.00 P a g e 55 | 73 AMOUNT OF BASIC PENSION DRAWN PER MONTH (Rs.)
THE AMOUNT OF DEARNESS RELIEF ADMISSIBLE (Rs.)
965-984 647.00 985-1004 660.00 1005-1024 674.00 1025-1044 687.00 1045-1064 701.00 1065-1084 714.00 1085 & above 727.00
(d) Employees in officer cadre shall be eligible for dearness relief as under.
i) For those drawing basic pension upto Rs. 765/- per month 66 percent of the amount of pension calculated at A above subject to a maximum of Rs.500/- ii) For those drawing basic pension upto Rs. 765/- to Rs. 1,165/- per month Rs.500/- iii) For those drawing basic pension upto Rs. 765/- per month or above
42.90 percent of the amount of pension calculated at A above subject to a maximum of Rs.715/- The formula for updating basic pension in respect of workmen who have retired on or after the 1st day of November, 1992 but before the 1st day of September, 1993 and in respect of officers who have retired on or after the 1st day of July, 1993 but before the 1st day of May, 1994 shall be as under:
(1) Total of pay drawn as per the old scales for the month/s during the last 10 months of qualifying service.
Rs.
P a g e 56 | 73
(2) Total of dearness allowance actually drawn or dearness allowance at 1148 points. whichever is less, for each:
month of pay calculated at (1) above Rs.
(3) Total of pay drawn as per (1) above plus total of dearness allowance drawn as per (2) above Rs.
(4) Total of pay drawn as per revised scales of pay for the month/s during the last 10 months of qualifying service including the month in which the employee retired Rs.
(5) Total of columns
(3) and (4) Rs.
(6) Average emoluments for the purpose of pension i.e.
Total as per (5) above 10 Rs.
(7) Updated basic pension 50% of (6) above x Number of years of qualifying service (Max. 33 years] 33 Rs.
(8) Basic Pension (Rounded off to next higher rupee Rs.
3. In respect of workmen who have retired on or after the 1st day of November, 1992 but before the 1st day of November, 1994 and in respect of officers who have retired on or after the 1st day of July, 1993 but before the 1st day of November, 1994 the amount of special allowances in terms of Bipartite Settlement dated 14th February, 1995 or the Officers' P a g e 57 | 73 Service Regulations, as the case may be, corresponding to the special allowances actually drawn at the time of retirement shall be reckoned for the purpose of computation of additional pension w.e.f. 1st November, 1994.
Provided that for the period from 1st day of November, 1992 or from the date of retirement, whichever is later, till the 31st day of October, 1994 the amount ranking for provident fund at pre-revised rates shall be reckoned for the purpose of computation of additional pension.
4. In respect of employees who have retired on or after the 1st day of November, 1994 and have drawn special allowance both at the pre-revised and revised rates during the last 10 months of service before retirement, the amount of special allowance in terms of the Bipartite Settlement dated 14th February, 1995 or the Officers’ Service Regulations, as the case may be, corresponding to the pre-revised special allowance actually drawn at the time of retirement shall be reckoned for the purpose of computation of additional pension.
The amount of revised special allowance drawn on or after the 1st day of November, 1994 shall be reckoned for computation of basic pension.
5. In respect of subordinate staff who nave retired on or after the 1st day of November, 1992 and have drawn pre-revised special allowance as also those who have retired on or after the 1st