ISLAMABAD: The Government of Pakistan has announced a 15% increase in pension for pensioners registered under EOBI (Employees Old Age Benefits Institution). After this increase, the minimum pension has been increased from Rs 10,000 to Rs 11,500.
The decision was taken at a meeting chaired by Federal Minister for Overseas Pakistanis, Saliq Hussain, which reviewed the financial performance of EOBI. The meeting was informed that during the financial year 2024-25, the company’s revenue has increased by 40 percent, which has reached Rs 116 billion.
In addition, the government has decided to expand the coverage of EOBI to more sectors, including agricultural, household, financial, and legal sectors. The move is aimed at bringing more workers under the ambit of the pension scheme.
The hike will come into effect on January 1, 2025, while it will be officially announced on Labor Day (May 1).
