What Are EOBI Family Pension Rules?


The Employees' Old-Age Benefits Institution (EOBI) in Pakistan offers various family pension benefits for insured individuals and their dependents. Here's a summary of the key rules:



What Are EOBI Family Pension Rules?

 
 

Eligibility:

Surviving spouse: Receives a life pension equal to the deceased's pension, provided they married before the deceased's minimum age for old-age pension (60 years for men, 55 for women). 

 

 

Minor children (boys till 18): Receive equal shares of the deceased's pension if no surviving spouse exists. 

 

 

Parents: If no spouse or children survive the deceased pensioner, the parents may receive a pension for 5 years. 

 

Pension Amount:

The minimum pension amount is Rs. 8,500 per month.

The maximum pension amount is calculated based on a formula considering the deceased's wages and contribution period. 

 

EOBI Pension Rules after Death:

Surviving Spouse: Can receive a life pension equal to the deceased's pension, assuming they married before the minimum age for old-age pension (60 for men, 55 for women).

 

Minor Children: (Boys until 18) receive equal shares of the deceased's pension if no surviving spouse exists.

 

Parents: In the absence of a spouse or children, parents may receive a pension for 5 years.

Pension Amount:

 

Minimum pension: Rs. 8,500 per month.

Maximum pension: Determined by a formula considering the deceased's wages and contribution period. 

 

What Are EOBI Family Pension Rules 2024?

As of today, there are no official announcements regarding any changes to the EOBI Family Pension Rules for 2024. The current rules, as per the EOBI Act 1976 and its amendments, remain in place.

 

However, it's important to note that the EOBI can revise its policies and regulations periodically. Changes might be announced sometime in 2024, but until then, the existing rules continue to apply. 

 

 

EOBI Family Pension Calculator:

I can provide you with some resources and steps to help you estimate the potential family pension amount:

 


Gather Information:

Deceased's Last Pay Drawn: This is the basic salary before any deductions.

Length of Service: The total number of years the deceased was employed and contributed to EOBI.

Age of Dependent(s): This is relevant for determining the eligibility and duration of pension for children.

 

 

Calculate Gross Pension:

Use the formula: Gross Pension = Last Pay Drawn * 7/300 * Length of Service

 

 

Calculate Family Pension:

For surviving spouses: Family Pension = 75% of Gross Pension

For minor children (boys until 18): Divide the remaining 25% of Gross Pension equally among eligible children.

 

For parents: If no spouse or children survive, they may receive 50% of the Gross Pension for 5 years.

Important Notes:

 

These are estimates, and the actual pension amount may vary depending on specific circumstances and applicable regulations at the time of claiming.

 

 

The minimum pension amount is Rs. 8,500 per month.

The maximum pension amount is calculated based on a formula considering the deceased's wages and contribution period.

 

 

It's best to consult EOBI directly or a professional for the most accurate calculation and guidance on your specific situation. 

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