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[Cites 0, Cited by 0] [Section 1960] [Entire Act]

Union of India - Subsection

Section 1960(3) in Canara Bank (Employees') Pension Regulations, 1995

(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.