Monday, October 2, 2023

EOBI Pension Likely to Get A Big Hike

The upcoming budget is likely to bring a substantial hike in the monthly pension for EOBI pensioners by raising it from Rs. 8,500 to Rs. 10,000.

Due to the ongoing economic and financial crises, the pension amount will not be increased beyond Rs. 10,000. Currently, pensioners receive a monthly sum of Rs. 8,500.

Moreover, Dr. Javed Sheikh, Deputy Director General Operations of EOBI, stated that EOBI’s Countrywide Pension Collection would witness a 30% increase by the end of the current fiscal year.

Dr. Javed Sheikh further explained that due to the absence of new hiring after retirements, EOBI is currently serving only 40% of its workforce.

Moreover, it has successfully resolved 90% of pension cases, providing pensioners with monthly payments exceeding Rs. 4 billion to more than 430,000 registered pensioners.

The government is allocating a total of Rs. 52 billion annually for pension payments to national registered senior citizens.

Dr. Sheikh highlighted that EOBI has issued regular cards to all registered pensioners, enabling them to conveniently withdraw their pension amount from any ATM machine and other Easy Paisa facilities in any city or region.

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