EOBI Announces Minimum Pension Increase: A Boost for Pensioners Starting January 2025
The Employees Old Age Benefits Institution (EOBI) has officially announced an increase in the minimum pension, aimed at enhancing the welfare of pensioners across Pakistan. The new pension rates will take effect on January 1, 2025, bringing the minimum pension from Rs 10,000 to Rs 11,500. Additionally, pensions above Rs 10,000 will be increased by 15%.
Raed Mroe: Expected pay increases of 30% and pension increases of 20%.
EOBI’s Performance and Revenue Growth
The decision was made after a briefing chaired by the Federal Minister for Overseas Pakistanis, Salik Hussain, on Monday. During the meeting, it was revealed that EOBI’s revenue for fiscal year 2024-25 had surged by 40%, reaching Rs 116 billion, compared to the previous year.
Expanding Coverage for More Workers
EOBI’s strategic plans include extending coverage to institutions with fewer than 10 employees, ensuring that more workers across the country benefit from the institution’s pension schemes. Moreover, the government plans to broaden EOBI coverage to sectors such as agriculture, domestic work, finance, and legal institutions, thereby improving social security in Pakistan.
A Timely Boost for Pensioners
The formal announcement of the pension increase is expected to coincide with Labor Day on May 1, 2025, providing a significant boost to pensioners in line with the government’s continued focus on improving social welfare.
