BUSINESS/FINANCE
EOBI Pensions Increased: Cabinet Approves 15% Hike
The federal cabinet has approved a 15% increase in Employees’ Old-Age Benefits Institution (EOBI) pensions, raising the minimum monthly pension from Rs10,000 to Rs11,500. According to Federal Minister for Overseas Pakistanis and Human Resource Development Chaudhry Saalik Hussain, the revised pensions will be disbursed from September 1 along with arrears.
With this decision, many long-serving pensioners will now be eligible to receive pensions exceeding Rs30,000 per month. The government has also directed EOBI to release Rs10 billion every month in pensions to support retired workers.
In addition to the pension hike, the federal cabinet has formed a committee to explore ways of including domestic workers and agricultural labourers under the EOBI system. Minister Chaudhry Saalik emphasized that the government is committed to ensuring welfare, financial stability, and dignity for retired employees, highlighting that strengthening EOBI remains a top priority.