EOBI pension expected to increase

ISLAMABAD: A parliamentary body on Thursday recommended raising the EOBI pension by revising the current formula-based system. A sub-committee of the National Assembly Standing Committee on Overseas Pakistanis and Human Resource Development, presided over by MNA Mahreen Razzaq Bhutto, asked the ministry to prepare proposals for pension changes.

At the meeting, Bhutto called upon the Ministry of Overseas Pakistanis and Human Resource Development to review the existing mechanism and study international models before finalising a new formula. The present minimum EOBI pension stands at Rs. 11,500 per month.

The committee was briefed by officials that the Employees’ Old-Age Benefits Institution is governed by a tripartite Board of Trustees, with representation from the federal government, provincial governments, employers, and employees. The board is headed by the secretary of the ministry.