EOBI Pension Increase Announced, Brings Joy to Millions of Pensioners

Islamabad: A positive change has come for EOBI (Employees’ Old-Age Benefits Institution) pensioners, as the minimum pension will be increased. The new amount of 11,500 rupees will be effective from January 1, 2025, and the official announcement will likely be made on Labour Day (May 1).

In a meeting of the Public Accounts Committee, chaired by Junaid Akbar, the 2022-23 audit of the Ministry of Overseas Pakistanis and Human Resource Development was discussed. EOBI officials shared that the Board of Trustees approved raising the minimum pension to 11,500 rupees and a 15% increase for those receiving more than 10,000 rupees. About 500,000 pensioners will benefit from this.

The meeting also revealed that EOBI had made payments of 2.79 billion rupees to fake pensioners. Officials also mentioned that EOBI has 600 billion rupees in its fund.

EOBI officials explained that the institution was established in 1976, before NADRA came into existence, and they verify ages using different methods, not just the national ID cards. However, only 38% of the approved staff are currently employed, and the recruitment process has been sped up.