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[Cites 0, Cited by 0] [Section 23] [Entire Act]

Union of India - Subsection

Section 23(8) in State Bank of India Employees Pension Fund Regulations, 2014

(8)
(a)In the case of members who ceased to be in the Bank's pensionable service prior to the 1st November, 1987 (excluding 1st November, 1987), 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, subject to necessary adjustment suitably up to 600 points.
(b)Such increase or decrease in dearness relief for every said four points shall be calculated in the manner given below :-
Scale of basic pension per month The rate of dearness relief as a per cent. of basic pension
(a) upto Rs. 1250 0.67 per cent
(b) Rs 1251 to Rs. 2000 0.67 per cent of Rs. 1250 plus 0.55 percent of basic pensionin excess of Rs. 1250.
(c) Rs. 2001 to Rs. 2130 0.67 per cent of Rs. 1250 plus 0.55 per cent. of thedifference between Rs. 2000 and Rs. 1250 plus 0.33 per cent. ofbasic pension in excess of Rs. 2000.
(d) above Rs. 2130 0.67 per cent of Rs. 1250 plus 0.55 per cent of the differencebetween Rs. 2000 and Rs 1250 plus 0.33 per cent. of thedifference between Rs. 2130 and Rs. 2000 plus 0.17 per cent ofbasic pension in excess of Rs. 2130.