In the recent annual budget speech, Federal Minister Finance Ishaque Dar announced the pay and pension increase.
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| EOBI Pension Increase 2023 Latest News |
According to Federal Minister’s budget speech in National Assembly dated 9th June 2023. The Government employee’s pension has been increased by 17.5% and Rupees 1500 increased in Employees Old-Age Benefits Institution (EOBI) pensioners.
The current monthly pension for EOBI pensioners is Rs. 8,500. With the 23% increase, the pension will be raised to Rs. 10,000. This will benefit over 1.5 million EOBI pensioners across the country.
The increase in pensions is in line with the government's commitment to provide social protection to vulnerable segments of society. The government has also announced a number of other measures to improve the lives of the poor and marginalized, including a raise in the minimum wage and a new housing scheme for low-income families.
The increase
in the EOBI pension is a welcome step. It will provide much-needed relief to the
pensioners and help them meet their basic needs. The government is also working
on other measures to improve the lives of the poor and marginalized. These
measures will go a long way in reducing poverty and inequality in Pakistan.
When EOBI Pension Increase?
The EOBI
Pension increase will be effective from July 1, 2023.
The EOBI increase
will benefit over 1.5 million EOBI pensioners from all over the country.
The EOBI increase is in line with the government's commitment to provide social protection to vulnerable segments of society.
The government has also announced a number of other measures to improve the lives of the poor and marginalized, including a raise in the minimum wage and a new housing scheme for low-income families.
EOBI Pension Increased to Rs.
10,000
Employees
Old-Age Benefits Institution (EOBI) pension has been increased to Rs. 10,000
per month. This was announced by the Federal Minister for Finance, Ishaque Dar,
in the budget speech for the fiscal year 2023-24.
The previous
monthly pension for EOBI pensioners was Rs. 8,500. With the 18.8% increase, the
pension has been raised to Rs. 10,000. This will benefit over 1.5 million EOBI
pensioners across the country.
The increase
in pensions is in line with the government's commitment to provide social
protection to vulnerable segments of society.
The
government has also announced a number of other measures to improve the lives
of the poor and marginalized, including a raise in the minimum wage and a new
housing scheme for low-income families.
The increase in the EOBI pension is a welcome step. It will provide much-needed relief to the pensioners and help them meet their basic needs. The government is also working on other measures to improve the lives of the poor and marginalized. These measures will go a long way in reducing poverty and inequality in Pakistan.
EOBI Pension Increase Latest News:
The Employees Old-Age Benefits Institution (EOBI) has announced that the pension for its beneficiaries will be increased by 18.8% from July 1, 2023. This means that the pension for a basic member will now be Rs. 10,000 per month, up from Rs. 8,500.
The increase in pensions is in line with the government's commitment to provide social protection to vulnerable segments of society.
The
government has also announced a number of other measures to improve the lives
of the poor and marginalized, including a raise in the minimum wage and a new
housing scheme for low-income families.
The increase
in the EOBI pension is a welcome step. It will provide much-needed relief to the
pensioners and help them meet their basic needs. The government is also working
on other measures to improve the lives of the poor and marginalized. These measures
will go a long way in reducing poverty and inequality in Pakistan.
What is The Minimum EOBI Pension?
The minimum
EOBI pension is Rs. 8,500/- per month. This was increased from Rs. 6,500/- per
month on January 1, 2020, by the Employees' Old-Age Benefits Institution
(EOBI).
EOBI is a statutory body established by the Employees' Old-Age Benefits Act, of 1976, to provide social security to employees in the private sector. It provides a number of benefits, including old-age pension, invalidity pension, survivor pension, and death grant.
EOBI Pension Eligibility Criteria:
Accumulated
at least 10 years of insurable employment
Attained the
age of 60 for men and 55 for women
EOBI Monthly
Contribution:
The amount
of pension payable to an employee will depend on the number of years of
insurable employment and the amount of contributions paid. The maximum pension
payable is Rs. 10,000/- per month.
EOBI
pensions are paid on a monthly basis. They are paid directly to the pensioner's
bank account. Pensioners can also opt to receive their pensions in the form of
a lump sum.
EOBI pensions are a valuable source of income for many retired employees. They can help to ensure that retirees have a comfortable standard of living.
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