A survivor EOBI pension in Pakistan lasts for the life of
the surviving spouse if the spouse had married the deceased person before they
had attained the minimum age prescribed for old-age pension (60 for men and 55
for women). However, if the surviving spouse remarries, they will lose their
entitlement to the pension.
How Long Does a Survivor EOBI Pension Last?
If the deceased person is not survived by a spouse, but
by minor children (boys up to the age of 18), the pension will be paid to the
children in equal shares until they reach adulthood. If the deceased person is
survived by both a spouse and minor children, the pension will be paid to the
spouse.
If the deceased person is not survived by a spouse or
children, the pension may be paid to the parents of the deceased for a period
of 5 years.
It is important to note that the EOBI fund is facing
financial challenges and is expected to be exhausted by 2027. As a result, the
government may need to make changes to the EOBI scheme in the future, which
could include changes to the survivor pension.
Current Status of
EOBI Fund:
The last actuarial evaluation of the EOBI fund is up to 30.06. 2012 carried out in 2015 has revealed that the EOB fund shall start
depleting in 2023 and be exhausted in 2027.
What Does This
Mean for Survivor EOBI Pension?
It is possible that the government may need to make changes to the survivor EOBI pension scheme in the future in order to ensure its sustainability. These changes could include reducing the amount of the pension, increasing the eligibility requirements, or limiting the duration of the pension.
Advice for
Survivors of EOBI Pensioners:
If you are a survivor of an EOBI pensioner, it is
important to stay informed about the latest developments regarding the EOBI
scheme. You should also consider taking steps to supplement your survivor
pension, such as saving for retirement or purchasing an annuity.
EOBI Pension
Transfer to Widow Procedure:
To transfer an EOBI pension to a widow, the following
steps must be taken:
The widow must obtain a copy of the death certificate of
the deceased EOBI pensioner.
The widow must complete the EOBI Survivor Pension Claim
Form (PR-04).
The widow must submit the following documents to the EOBI
office:
A copy of the death certificate of the deceased EOBI
pensioner
A copy of the EOBI registration card of the deceased EOBI
pensioner
A copy of the widow's national identity card
A copy of the widow's marriage certificate
A copy of the widow's bank account statement
The EOBI office will process the claim and, if approved,
will start paying the survivor pension to the widow.
It is important to note that the widow must submit the
claim form within 12 months of the death of the deceased EOBI pensioner. If the
claim form is submitted after 12 months, the widow may not be entitled to
receive the survivor pension.
Additional
information:
The survivor pension is equal to 50% of the old-age
pension that the deceased EOBI pensioner was receiving.
The survivor pension is paid for the life of the widow, or until she remarries. If the widow remarries, she will lose her entitlement to the survivor pension. If the deceased EOBI pensioner is not survived by a spouse, but by minor children (boys up to the age of 18), the pension will be paid to the children in equal shares until they reach adulthood.
If the deceased EOBI pensioner is survived by both a
spouse and minor children, the pension will be paid to the spouse.
If the deceased EOBI pensioner is not survived by a
spouse or children, the pension may be paid to the parents of the deceased for
a period of 5 years.
EOBI pension Transfer to Widow Form:
The EOBI pension transfer to widow form is called the
Survivor Pension Claim Form (PR-04). It can be downloaded from the EOBI website
or obtained from an EOBI office.
The form requires
the following information:
Personal information of the widow, including her name,
date of birth, and national identity card number
Personal information of the deceased EOBI pensioner,
including their name, date of death, and EOBI registration card number
Information about the widow's marriage to the deceased
EOBI pensioner, including the date of marriage and a copy of the marriage
certificate
Banking information of the widow, including the name of
the bank, branch code, and account number
The form must be signed by the widow and submitted to the
EOBI office along with the following supporting documents:
A copy of the death certificate of the deceased EOBI
pensioner
A copy of the EOBI registration card of the deceased EOBI
pensioner
A copy of the widow's national identity card
A copy of the widow's marriage certificate
A copy of the widow's bank account statement
The EOBI office will process the claim and, if approved,
will start paying the survivor pension to the widow.
Tips for
Submitting a Survivor Pension Claim:
Make sure to complete the claim form accurately and
completely.
Attach all of the required documents to the claim form.
Submit the claim form to the EOBI office as soon as
possible.
Follow up with the EOBI office regularly to check the status of your claim.
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