The Employees’ Old-Age Benefits Institution (EOBI) has announced an increase in minimum pensions, with the new rates set to take effect from January 1, 2025.
The decision was made during a meeting held on Monday, chaired by Federal Minister for Overseas Pakistanis Salik Hussain. The meeting included a briefing on EOBI’s performance over the past three quarters.
According to the briefing, EOBI earned a total revenue of Rs116 billion in the financial year 2024–25, marking a 40% increase in income.
It was revealed that the minimum pension has been raised from Rs10,000 to Rs11,500. Pensions above Rs10,000 will see a 15% increase. The official announcement is expected to be made on Labour Day, May 1.
The briefing also highlighted a proposal to bring businesses with fewer than ten employees under the EOBI law. In addition, a decision has been made to extend coverage to agricultural, domestic, financial, and legal sectors.
#EOBI #announces #pension #increase
