Islamabad, July 17:The federal cabinet has approved a 15% rise in pensions provided by the Employees’ Old-Age Benefits Institution (EOBI), which will take effect from January 1, 2025.
This decision, taken on a proposal by the Ministry of Overseas Pakistanis and Human Resource Development, will be supported through EOBI’s own financial resources.
The cabinet session, presided over by Prime Minister Muhammad Shehbaz Sharif, also decided to set up a cabinet committee to initiate institutional reforms within EOBI.
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The newly formed body will also evaluate options for extending pension coverage to workers in the informal economy, such as domestic helpers, farm laborers, and others who have traditionally been excluded from formal benefits.
These reform efforts aim to ensure social protection and rightful access to benefits for workers in long-neglected employment sectors.
