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Dearness Relief on Pension gone up since its introduction in 1993

sent by

perumal maruthu perumalmaruthu@yahoo.co.in

The DA index given below  helps us know the erosion of the purchasing power of the rupee.

Those who shunned investment avenues but opted for pension would be partially protected to some extent against the spiralling inflation. But for the unflinching faith and total support of the pre-1/11/2002 ,Bank Retirees would not have had the scheme as the detractors of Pension moved heaven and earth to stop introduction of the scheme by filing Writ Petition , obtaining stay orders against pro-pension Union and even questioning the binding nature and legal status of the MOU. Therefore, the present serving staff and those who retired after 1/11/2002 must not turn a Nelson's eye on the 100% DA and Updation to this group of pioneers and veterans. They must also convince the Leaders of UFBU for removal of this injustice to 1.5 lakh ex-staff as expeditiously as possible.


M.Perumal
CB-Pensioner
Chennai

 

          YEAR

AVERAGE

PRICE INDEX

INCREASE

IN SLABS

DA RATE %      1ST SLAB (OVER 600 POINTS)

November, 1993

1216

-

103.18 

February, 1994

1296

20

116.58

February, 1995

1480

33

138.69

February, 1996

1572

36

162.81

February, 1997

1716

36

186.93

February, 1998

1812

24

203.01

February, 1999

2136

81

257.28

February, 2000

2144

2

258.62

February, 2001

2208

16

269.34

February, 2002

2312

26

272.69

February, 2003

2396

21

300.83

February, 2004

2476

20

314.23

February, 2005

2580

26

331.65

February, 2006

2712

33

353.76

February, 2007

2896

46

384.58

February, 2008

3056

40

411.38

February, 2009

3368

78

463.64

February, 2010

3816

112

538.68

February, 2011

4168

61

597.64

August, 2011

4276

27

615.73

 

The DR which was  103.18% in November, 1993 when the Pension scheme was introduced has gone up to 615.73.  Thus when prices are soaring high, a monthly income linked to cost of living index is the best option.