In a sigh of relief for retired employees, the Federal Government approved a 15% increase in pensions under the Old Authel Benefits Institution (EOBI) on Saturday.
Talking to journalists, after the cabinet meeting, Pakistani Minister abroad and the development of human resources Chaudhry Salik Hussain said: “Eobi pensions have increased.”
He said that Eobi pensioners will be paid, including arrears, as of September 1, added the minister. Hussain said EOBI would release RS10 billion in monthly pensions.
“Pensioners with long service can now receive a pension from more than RS30,000 per month,” added the minister.
He argued that a committee had formed to include the informal sector and domestic workers in EOBI. The committee would also work to include agricultural workers in the EOBI system, Hussain added.
The new increase in the pension adds to the 15% increase approved by the cabinet last month.
In July, the cabinet approved a 15% increase in pensions under EOBI, which would enter into force as of January 1, 2025.
Earlier this week, EOBI assured the Permanent Committee of the National Assembly on Pakistani abroad and the development of human resources that pensions would be released, with the minimum pension collected from RS10,000 to RS11,500 with effect from January 1, 2025 to disburse together with all the delays on September 1, 2025.
