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Union of India - Section

Section 1960 in Canara Bank (Employees') Pension Regulations, 1995

1960.

=100.|}[Appendix II] [Amended w.e.f. 30.11.2002 ref Circular No. 265/2002 dated 24.12.2002](See regulation 37)Dearness relief on basic pension shall be as under:-
(1)In the case of employees who were in the workmen cadre and who retired on or after 1st day of January, 1986, but before the 15t day of November, 1992; and in the case of employees who were in the officers' cadre and who retired on or after 1st day of January, 1986, but before the 1st day of July, 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:-
Scale of basic pension per month pension The rate of dearness relief as a percentage ofbasic
(1) (2)
(i) Up to Rs. 1250 0.67 per cent
(ii) Rs. 1251 to Rs. 2000 0.67 per cent of Rs.1250 plus 0.55 per cent ofbasic pension in excess of Rs.1250.
(iii) Rs. 2001 to Rs. 2130 0.67 per cent of Rs.1250 plus 0.55 per cent ofthe difference between Rs.2000 and Rs.1250 plus 0.33 per cent ofbasic pension in excess of Rs.2000.
(iv) Above Rs. 2130 0.67 per cent of Rs.1250 plus 0.55 per cent ofthe difference between Rs.2000 and Rs.1250 plus 0.33 per cent ofthe difference between Rs.2130 and Rs.2000 plus 0.17 per cent ofbasic pension in excess of Rs.2130.
(2)In the case of employees who are in workmen cadre and who retire on or after 1st day of November, 1992; and in the case of employees who are in the officers' cadre and who retire on or after 1st day of July, 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 1148 points in the quarterly average of 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:-
Scale of basic pension per month The rate of dearness relief as a percentage ofbasic pension
(1) (2)
(i) Upto Rs.2400 0.35 per cent
(ii) Rs.2401 to Rs.3850 0.35 per cent of Rs.2400 plus 0.29 per cent ofbasic pension in excess of Rs.2400.
(iii) Rs.3851 to Rs.4100 0.35 per cent of Rs.2400 plus 0.29 per cent ofthe difference between Rs.3850 and Rs.2400 plus 0.17 per cent ofbasic pension in excess of Rs.3850.
(iv) Above Rs.4100 0.35 per cent of Rs.2400 plus 0.29 per cent ofthe difference between Rs.3850 and Rs.2400 plus 0.17 per cent ofthe difference between Rs.4100 and Rs.3850 plus 0.09 per cent ofbasic pension in excess of Rs.4100.
(3)In the case of employees who retire on or after the 1st day of April, 1998, dearness relief shall be payable for every rise or be recoverable for every fall, as the case may be, of every 4 points over 1616 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:-
Scale of basic pension per month The rate of dearness relief as a percentage ofbasic pension
(i) Upto Rs.3380 0.25 per cent
(ii) Rs.3381 to Rs.5420 0.25 per cent of Rs.3380 plus 0.21 per centbasic pension in excess of Rs. 3380
(iii) Rs.5421 to Rs.5770 0.25 per cent of Rs.3380 plus 0.21 per cent ofthe difference between Rs.5420 and Rs.3380 plus 0.12 per cent ofbasic pension in excess of Rs.5420.
(iv) Above Rs.5770 0.25 per cent of Rs.3380 plus 0.21 per cent ofthe difference between Rs.5420 and Rs.3380 plus 0.12 per cent of the difference between Rs. 5770 and rs. 5420 plus 0.06 per cent of basic pension in excess of Rs. 5770.
(4)Dearness relief shall be payable for the half year commencing from the 1st day of February and ending with 31st day of July on the quarterly average of the index figures publishes for the months of October, November and December of the previous year and for the half year commencing from the 1st day of August and ending with the 31st day of January on the quarterly average of the index figures published for the months of April, May and June of the same year.
(5)In the case of family pension, invalid pension and compassionate allowance, dearness relief shall be payable in accordance with the rates mentioned above.
(6)Dearness relief will be allowed on full basic pension even after commutation.
(7)Dearness relief is not payable on additional pension.
(8)Pensioner whose basic pension is less than minimum pension but the aggregate of basic and additional pension is more than the minimum pension shall draw dearness relief as applicable to minimum pension.[Appendix III] [Amended w.e.f. 30.11.2002 ref Circular No.265/2002 dated 24.12.2002](See Regulation 39)The ordinary rates of family pension shall be as under:-
(a)In respect of employees other than part-time employees, where the employee was in the workmen cadre and retired before 01.11.1992 or where the employee was in the officers' cadre and retired before 01.07.1993.
Scale of pay per month Amount of monthly Family Pension
(1) (2)
Upto Rs.1500 30 per cent of the 'pay' shall be the basicfamily pension plus 30 per cent of allowances which are countedfor making contributions to Provident Fund but not for dearnessallowance shall be the additional family pension. The aggregateof basic and additional family pension shall not be less thanRs.375 per month.
Rs.1501 to Rs.3000 20 per cent of the 'pay' shall be the BasicFamily Pension plus 20 percent of allowances which are countedfor making contributions to Provident Fund but not dearnessallowance shall be the additional family pension. The aggregateof basic and additional family pension shall not be less thanRs.450 per month.
Above Rs.3000 15 per cent of the 'pay' shall be the basicfamily pension plus 15 per cent of allowances which are countedfor making contributions to Provident Fund but not for dearnessallowance shall be the additional family pension. The aggregateof basic and additional family pension shall not be less thanRs.600 per month and not more than Rs.1250 per month.
(b)In respect of employees other than part-time employees, where the employee was in the workmen cadre and retired on or after 01.11.1992 or where the employee was in the officers' cadre and retired on or after 01.07.1993:
Scale of pay per month Amount of monthly Family Pension
(1) (2)
Upto Rs.2870 30 per cent of the 'Pay' shall be the basicfamily pension plus 30 per cent of allowances which are countedfor making contributions to Provident Fund but not for dearnessallowance shall be the additional family pension. The aggregateof basic and additional family pension shall be subject to aminimum of Rs.720 per month.
Rs.2871 to Rs.5740 20 per cent of the 'Pay' shall be the basicfamily pension plus 20 per cent of allowances which are countedfor making contributions to Provident Fund but not for dearnessallowance shall be the additional family pension. The aggregateof basic and additional family pension shall be subject to aminimum of Rs.860 per month.
Above Rs.5740 15 per cent of the 'Pay' shall be the basicfamily pension plus 15 per cent of allowances which are countedfor making contributions to Provident Fund but not for dearnessallowance shall be the additional family pension. The aggregateof basic and additional family pension shall be subject to aminimum of Rs.1150 per month and a maximum of Rs.2400 per month.
(c)In respect of employees (both officers and workmen) other than part time employees retiring on or after 01.04.1998:
Scale of pay per month Amount of monthly Family Pension
(1) (2)
Upto Rs.4040 30 per cent of the 'Pay' shall be the basicfamily pension plus 30 per cent of allowances which are countedfor making contributions to Provident Fund but not for dearnessallowance shall be the additional family pension. The aggregateof basic and additional family pension shall not be less thanRs.1015 per month.
Rs.4040 to Rs.8080 20 per cent of the 'Pay' shall be the basicfamily pension plus 20 per cent of allowances which are countedfor making contributions to Provident Fund but not for dearnessallowance shall be the additional family pension. The aggregateof basic and additional family pension shall not be less thanRs.1212 per month.
Above Rs.8080 15 per cent of the 'Pay' shall be the basicfamily pension plus 15 per cent of allowances which are countedfor making contributions to Provident Fund but not for dearnessallowance shall be the additional family pension. The aggregateof basic and additional family pension shall not be less thanRs.1616 per month and a more than 3378 per month.
Notes: (1) Dearness relief is not payable on additional family pension.
(2)Scale of pay for the purpose of calculation of family pension as above shall be the aggregate of 'Pay' as defined in sub-clause (s) of regulation 2 and "allowances" as defined in the explanation to sub-regulation(3) of regulation 35.
(3)In the case of a part-time employee, the minimum amount of family pension and maximum amount of family pension shall be in proportion to the rate of scale wages drawn by the employee.
(4)In case the aggregate of basic and additional family pension falls short of minimum pension, the pensioner may be given minimum family pension and dearness relief may be paid in such minimum family pension. However, no additional pension shall be payable over and above the minimum family pension.[Appendix IV] [Amended w.e.f. 30.11.2002 ref Circular No. 365/2002 dated 24.12.2002](See Regulation 27)Actual service on scale wages rendered on permanent part-time basis in one week Length of corresponding qualifying service for each year of service rendered on permanent part-time basis for caculating the amount of pension.
(1) (2)
Six hours or more but upto 13 hours One third of a year
More than 13 hours upto 19 hours One half of a year
More than 19 hours but upto 29 hours Three fourth of a year
More than 29 hours One year
[Appendix V] [Inserted w.e.f. 30.11.2002 ref Circular No.265/2002 dated 24.12.2002](See Regulation 39)The formula for computing basic family pension and additional family pension in respect of employees who were in the service of the Bank on or after the 1st day of January, 1986 and had died while in service on or before the 31st day of October, 1987 or had retired on or before the 31st day of October, 1987 but died shall be as under:-
(1)Basic Family Pension:
(A) pay drawn by the deceased employee at thetime of death/retirement Rs.
(B) Basic family pension at the ordinary rate asper Table given below Rs.
(C) Dearness Relief at index 600 in the AllIndia Average Consumer Price Index for Industrial Workers in theseries 1960=100 as per Table I given in Appendix - I on basicfamily pension calculated at (B) above. Rs.
(D) Updated basic family pension i.e., (B) + (C) Rs.
(E) Updated basic family pension as per (D)above (rounded off to next higher rupee) Rs.
(F) Basic family pension at one and half timesor twice the updated basic family pension as the case may be of(D) above (rounded off to next higher rupee) Rs.
(2)Additional Family PensionSpecial allowance to the extent of the amount ranking for making contributions to the Provident Fund in terms of the Bipartite Settlement dated 10.04.1989/Officers' Service Regulations corresponding to the special allowance drawn before retirement/death shall be reckoned for the purpose of additional family pension.Note: - (1) Dearness relief is not payable on additional family pension.
(2)In case the aggregate of update basic family pension and update additional family pension falls short of rs. 375, the pensioner may be paid Rs. 375 with dearness relief thereon in which case no update additional family pension shall be payable.
Pay range Amount of Family Pension
Below Rs. 664/- 30 Per cent of 'Pay' shall be the basic familypension plus 30 per cent of the allowances which counted formaking contribution to Provident Fund but not for dearnessallowance shall be the additional family pension with a minimumof Rs. 100 and maximum of Rs. 166/-.
Rs. 664/- and above but below Rs. 1992/- 15 per cent 'Pay' shall be the basic familypension plus 15 per cent of the allowances which counted formaking contribution to Provident Fund but not for dearnessallowance shall be the additional family pension with a minimumof Rs. 166/- and maximum of Rs. 266/-.
Rs. 1992/- and above 12 per cent 'Pay' shall be the basic familypension plus 12 per cent of the allowances which counted formaking contribution to Provident Fund but not for dearnessallowance shall be the additional family pension with a minimumof Rs. 266/- and maximum of Rs. 415/-.
[Schedule to Canara Bank (Employees') Pension Regulations, 1995 Competent Authority'] [Amended w.e.f. 29.12.2010 ref Circular No.12/2011 dated 11.01.2011]
SI. No. Regulation/Clause/Sub-Clause Purpose Competent Authority
1 3 Acceptance of option from Employees/RetiredEmployees/Family of the deceased employees/retired employees As nominated by the Managing Director
2 29 Acceptance of Voluntary Retirement Workmen Employees —Deputy GeneralManager at Circle Office/ Assistant General Manager headingCircle office.Assistant GeneralManager Personnel Wing for Workmen Employees at Head Office.Officers in Scale, III & Ill & Executives in Scale IV, V — GeneralManager, PersonnelWing.Executives in ScaleVI - Executive Director.Executives in Scale VII — Chairman &Managing Director.
3 31&33 Sanction of Compassionate Allowance/CompulsoryRetirement Pension. Next Authority higher to the respectiveDisciplinary Authority
4 41&51 • Sanction of Pension• Commutation ofPension & receipt of application for commutation.• Receipt of nomination for pension benefit Workmen&Officersup to Scale-Ill-Assistant General Manager at circle office.Assistant GeneralManager Personnel Wing for Workmen & Officers up to Scale-Ill at Head Office.Executives in ScaleIV & V — General Manager, Personnel Wing.Executives in ScaleVI —Executive Director.Executives in ScaleVII — Chairman & ManagingDirector.For all nomination purposes under Regulation 51theCompetent Authority shall be the Pension Fund for allcadres.
5 43, 45 & 48 Withholding and withdrawal of pension andinstituting Departmental Proceedings after retirement &recovery of pecuniary loss from pension Workmen &Officers in Scale I to III — Assistant General Manager.Executives in ScaleIV & V — General Manager, Personnel WingExecutives in ScaleVI — Executive Director.Executives in Scale VII — Chairman &Managing Director.
6 50 Granting permission for commercial employmentafter retirement in respect of officer employees Officers in Scale ItoIII-General Manager, Personnel WingExecutives in ScaleIV & V — Executive DirectorExecutives in Scale VI & VII-Chairman &Managing Director