I am writing to bring attention to the plight of EOBI pensioners, who are facing severe financial challenges due to stagnant pensions. The economic circumstances in the country have made survival difficult for even the middle class, let alone pensioners who rely solely on their limited pensions. An amount of Rs10000 per month is insufficient to meet even the most basic needs, particularly for elderly citizens who often require constant medical treatment and medication. According to EOBI sources, there are strong indications that a pension increase is being considered. In addition to the contributions, the EOBI's investment income has increased to billions of rupees.
Based on these developments, increasing the pension by Rs3700 per pensioner would not place an undue burden on the institution. It is also important to highlight that the matching grant, which has been suspended since 1995, must be reinstated. The revival of this grant would significantly strengthen EOBI’s financial position and enable sustainable pension increases. We request the government to prioritise this matter, as it will ensure long-term financial support for pensioners.
Azfar Shamim
Karachi