The federal cabinet has approved a 15% increase in EOBI pensions, raising the minimum monthly amount from Rs10,000 to Rs11,500.
The new EOBI pensions rates will take effect from September 1, and retirees will also receive arrears, according to Federal Minister for Overseas Pakistanis and Human Resource Development, Chaudhry Saalik Hussain.
With this increase, long-serving pensioners will now be entitled to more than Rs. 30,000 per month. The minister said the government has directed the Employees’ Old-Age Benefits Institution to release Rs. 10 billion every month to ensure timely support for retired workers.
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The cabinet also decided to expand coverage under EOBI by setting up a committee to examine ways of including domestic workers and agricultural laborers in the pension system.
Chaudhry Saalik stressed that the move reflects the government’s commitment to the welfare of workers. He said strengthening EOBI will help provide financial stability and dignity to retired employees across the country.
