Islamabad: The government has decided to increase the pension annuity under the Employees’ Old-Age Benefits Institution (EOBI) by 30%; starting from January 1, 2020 onwards, a news source reported. Special Assistant to the Prime Minister (PM) on Overseas Pakistani & Human Resource Development Sayed Zulfikar Abbas Bukhari announced that following the increase, EOBI pensioners would receive PKR 8,500 per month.
Bukhari stated that the ministry would move the summary for the increase at the federal cabinet’s next meeting, which would provide the final approval.
It is notable that since the incumbent government came to power, the EOBI pension has increased 62%. Bukhari also revealed that by the end of its tenure in 2023, the government plans to increase the amount to PKR 15,000.
The Special Assistant to the PM stated that out of a total 15 million formal labourers, only 8.1 million were registered with the EOBI. He added that the government plans to ensure the inclusion of informal workforce.
Further, Bukhari said that digitalisation of the EOBI was under process – expected to reach completion within three months. He added that this would help in making the institution’s operations more transparent.
