Govt approves 15% increase in EOBI pensions

The federal cabinet on Saturday approved a 15% increase in pensions under the Employees’ Old-Age Benefits Institution (EOBI).

Talking to journalists, following the cabinet meeting, Minister for Overseas Pakistanis and Human Resource Development Chaudhry Salik Hussain said: "EOBI pensions have been increased.”

He said that the EOBI pensioners will be paid, including arrears, from September 1, the minister added. Hussain said that the EOBI would release Rs10 billion in monthly pension.

“Pensioners with long service will now be able to receive a pension of more than Rs30,000 per month,” the minister added.

He maintained that a committee had been formed to include the informal sector and domestic workers in the EOBI. The committee would also work towards including agricultural labourers in the EOBI system, Hussain added.

The fresh increase in pension is in addition to the 15% raise approved by the cabinet last month.

In July, the cabinet approved a 15% hike in pensions under the EOBI, which was to take effect from January 1, 2025.

Earlier this week, the EOBI assured the National Assembly’s Standing Committee on Overseas Pakistanis and Human Resource Development that the pensions would be released, with the minimum pension raised from Rs10,000 to Rs11,500 with effect from January 1, 2025 to be disbursed along with all arrears on September 1, 2025.