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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 � % 1^ST 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.