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HomeEconomic PoliciesEOBI pension increases to Rs8,500; pensioners to get arrears

EOBI pension increases to Rs8,500; pensioners to get arrears

The federal cabinet has approved increase in pension of Employees Old-Age Benefits Institution (EOBI) to Rs8,500 from Rs6,500.

According to a tweet by EOBI on Wednesday, the federal cabinet approved an increase in EOBI pensions from Rs 6500 to Rs8500 effective from January 01, 2020.

EOBI will restore the increase in pension + arrears for the month of April, June and July 2020. Pensioners can draw this increase along with the arrears from 1st August 2020, it added.

The increase in pension was announced in December 2019 by Special Assistant to the Prime Minister on Overseas Pakistanis and Human Resource Development Sayed Zulfikar Abbas Bukhari.

He said that after increase in the EOBI pensioners would receive Rs 8,500 per month from January 01, 2020.

He said the ministry would move the summary regarding the increase at the next meeting of federal cabinet for a final approval.

The SAPM said the PTI government, in its efforts to give more relief to the pensioners, had twice increased their annuity in just one and half year’s tenure.

He said the government had already enhanced the minimum pension of the EOBI’s insured person from Rs 5,250 to Rs 6,500 during 2018.

The EOBI pension has been enhanced by 62 per cent since the Pakistan Tehreek-e-Insaf government came into power.

“We are intending to raise this amount up to Rs 15,000 by the end of our tenure (2023),” Zulfikar Bukhari said.

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