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[Cites 0, Cited by 0] [Section 56] [Entire Act]

Union of India - Subsection

Section 56(1) in The Life Insurance Corporation of India (Employees) Pension Rules, 1995

(1)In the case of employees who retired on or after the 1st day of January, 1986, but before the 1st day of November, 1993, dearness relief shall be payable for every rise or be recoverable for every fall, as the case may be, of every 4 points over 600 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:
Scaleof basic pension per month(1) Therate of dearness relief as a percentage of basic pension(2)
(i) upto Rs.1250/- 0.67 per cent
(ii) Rs.1251/- to Rs. 2,000/- 0.67 per centof Rs. 1250/- plus 0.55 per cent of basic pension in excess ofRs. 1250/-
(iii) Rs.2001/- to Rs. 2130/- 0.67 per centof Rs. 1250/- plus 0.55 per cent of the difference between Rs.2000/- and Rs. 1250/- plus 0.33 per cent of basic pension inexcess of Rs. 2000/-
(iv) aboveRs. 2130/- 0.67 per centof Rs. 1250/- plus 0.55 per cent of the difference between Rs.2000/- and Rs. 1250/- plus 0.33 per cent of the differencebetween Rs. 2130/- and Rs. 2000/- plus 0.17 per cent of basicpension in excess of Rs. 2130/-.