Pakistan

EOBI to raise pensions from May 1

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Digital Desk

1 year ago

ISLAMABAD: The Public Accounts Committee (PAC) was informed that the Employees Old-Age Benefits Institution (EOBI) is set to increase the pensions from May 1, and the recipient will be determined on their CNIC record instead of their matriculation certificates.

The PAC meeting was chaired by Junaid Akbar Khan, with the participation of other relevant authorities from different ministries on Wednesday at the Parliament House.

The EOBI has revealed that over two billion rupees have been granted to fake pensioners.

The Committee was informed that the data of over 5,000 beneficiaries out of 800,000 has been found incorrect as their CNIC birth date does not match with their matric certificates.

In some cases, men under 60 and women under 55 were receiving pensions, in violation of eligibility criteria.

The officials told the body that these forgeries were meant to take pensions from the EOBI, and now the pensions will be granted on CNIC data.

EOBI has recovered over 1.5 billion Rupees from different institutions, while over 2.40 billion rupess still to be recovered from them, EOBI officials told the Committee. Some cases are in court of law and the EOBI is hopefully to take 1 billion more From the institutions. The officials added.

The committee chairman directed the EOBI officials to complete the recovery within a month.

Furthermore, the committee was informed that the institution’s fund currently stands at Rs600 billion with over 10 million businesses registered across the country.

The Ministry of Overseas Pakistanis secretary said that pension cases would be settled now based on the CNIC, adding that EOBI pensions will be raised from May 1.

However, the Overseas Ministry asked the committee to grant a time of 1 month to resolve the issues. The committee directed the ministry to submit a report in one month.

Digital Desk