Govt intends to double EOBI pension amount by 2023

ISLAMABAD, Dec 6 (APP):The government is working out a plan to raise Employees’ Old-Age Benefits Institution (EOBI) pension amount up to a minimum Rs 15,000 per month by 2023.

“Pensions of the EOBI beneficiaries has been increased twice in the recent past and more reforms are being introduced in the department to benefit the pensioners,” an official source in the ministry of Overseas Pakistanis and Human Resource Development told APP on Friday.

He said the institution had already enhanced the minimum pension of the EOBI’s insured person from Rs 3,600  to Rs 5,250 in 2015 and later the amount was increased from Rs 5,250 to Rs 6,500 during 2018.

“The government intends to increase the minimum pension from Rs 6,500 to Rs 13,000 per month,  in next four years and multiple initiatives are being taken in this regard,” he added. The Institution, he said had initiated the transformation of EOBI which would enable it to increase its revenue.

He said the ministry was working out on different reforms to resolve devolution issues confronting the institution and sped up efforts to save one of the biggest funds of the country from depletion.