DA rates for retired bankers

This is my first blog dedicated to my retired bankers family friends on the topic:-
DA rates for retired bankers
As my banker's family friends already aware that the DA rates for retired bankers is revising on evary half yearly basis and effective from every February and August months. The new DA rates for retired bankers are payable on 1st February and 1st August, but new DA rates for retired bankers with new DA rate reflected in the pension credited on 1st March and 1st September.
The calculation of the DA rate for bankers is quite tedious work. Most of my friends does not understand the procedure of DA calculation ever they are in service.  Now when we are retired and the source of information is less, at this age it is quite different to even know the DA rates for retired bankers..
This is not a problem of one pensioner but it is a problem for mass that's why I am trying to accumulate all the information pertaining to DA rates for retired bankers and summarise in my blog
Here below I am giving a link of the website of all Banking solutions.com a famous website to know the DA rates for retired bankers with a facility of calculator. Just fill your basic Pension in the required field and get your new basic Pension which was credited on 1st September.Click here.
For the ready reference of my pensioner friends I giving details of the DA Rates for Retired Bankers from August 2016 to January 2017 are as under :

(1) Bankers who Retired on or After 01/11/2007:
DA rate for Entire Basic Pension is 128.40%.
Means if the eligible pensioner multiply your total basic Pension with the DA rate, the Pension will arrive that was credited in the pensioners bank account on 1st of September.
Basic Pension X 128.40/100 (-) commuted Pension amount = Pension credited in the bank account on 1st September

(2) DA rate for Retired banker who retired on or After 01/11/2002 upto 31/10/2007:
DA rate for Entire Basic Pension is 178.74%.

(3 ) DA rate for Retired bankers who retired on or After 01/04/1998 upto 31/10/2002.
The DA rate is as follows as per the basic
- DA for Basic Pension upto 3550.
 @ 274.56%.
- DA for Basic Pension from 3551 upto 5650, the DA rate is @ 228.80%
- DA for Basic Pension from 5651 upto 6010, the DA rete is @  137.28%.
- DA for Basic Pension above 6010, the DA rare is @  68.64%

 (4) DA rate for Retired bankers who retired on or After 01/11/1992 upto 31/03/1998
- DA for Basic Pension upto 2400 is @ 447.30%.
- DA for Basic Pension from 2401 upto 3850, the DA rate is @ 370.62%.
- DA for Basic Pension from 3851 upto 4100, the DA rate is @ 217.26%.
- DA for Basic Pension above 4100, the DA rate is @ 115.02%.

(5) DA rate for Retired bankers who retired on or before or prior to  01/11/1992
- DA for Basic Pension upto 1250, the DA rate is @ 948.05%
- DA for Basic Pension from 1251 upto 2000, the DA rate is @ 778.25%
- DA for Basic Pension from 2001 upto 2130, the DA rate is @ 466.95%.
- DA for Basic Pension above 2130, the DA rate is @ 240.55%

 (6) Ex-Gratia Payment to the retired banker who retired before 01.01.1986 or Pre 01.01.1986 Retirees
Basic Ex Gratia is Rs 350
DA % age on EX-Gratia of Rs 350/-
948.05

Not only the increase in DA rates for retired banker thete are one more good news for all of us As per lestest update of April 15, 2016 that IBA agrees to look into the revision of the pension for bank retirees and It seems a light spark in the darkness of retired bank employees that a long pending demand for revision of pension has finally come up with a positive attitude by the Indian Banks’ Association (IBA).
Finally the United Federation of Bank Unions (UFBU) has been able to initiate with the long pending demands in their talks with the IBA, which was held a couple of days ago.
"The General Secretary, AIBEA, Mr Venkatachlam who represented UFBU along with its convener MV Murali and others, told Business Line, that the IBA has agreed to examine the long pending issues sympathetic and also added that the IBA has already called banks for the details of the number of present pensioners, and family pensioners."

The issues are there
(1) Revision of the pension for retired bank employees from 1986 must be reviewed.
The pension has not been revised and there is no periodical revision of pension as per the Pay Commission recommendation's for pay scales. But in the case of Central government employees the recommendation being followed for pensioner's also.

(2) The quantum of family pension must also be increased.
The quantum of family pension has  not been increased in the case of Pension payable to family members after the death of a serving or retired bank employees.

(3) Uniform DA calculating formula must be introduced.
A request for calculating uniform.
Prior it was found that there is tapering in the DA formula. Now, retired employee also want that there is same uniform formula on DA calculation for retired employees also.

In support of the retired bank employees the serving employee body has also requested to the IBA to expedite the cost calculation as per the demands have been long pending and also added to consider with sympathy and without further delay as the retired employees being aged.

The IBA has also assured the union to expedite work in this regard.

In my views my blog is become useful for all my retired banker family friends and also check their present pension as per the correct DA rate.
I am already blogging so many banking related topics which is very useful for serving bankers or students but I never thought that this topic is equally important as many of my retired friend need some platform from where they get some information for their betterment. I also request to all my friends to like my blog and also comment your views which help me to improve my skills.
I need your support.  I am very thankful to all my viewers and friends.