EOBI Pension Calculator | Calculate Your EOBI Pension Easily
EOBI Pension Calculator
Are you close to old age and wondering how much pension you will receive? In Pakistan, the Employee’s Old-Age Benefits Institution (EOBI) offers retirement benefits to retired individuals, disabled persons, and deceased employees’ dependents.
Estimating the amount of your pension can be confusing, but the EOBI Pension Calculator simplifies everything. This document outlines the steps you can use to calculate your pension and plan ahead.
EOBI Pension Calculator APK Download
| Aspect | Details |
|---|---|
| App Name | EOBI Calculator |
| Size | 5 MB |
| Category | Calculate Penstion |
| Version | 1.0 (Latest Version) |
| Requires Android | Version 6.0 or newer |
| Downloads | Over 1 million |
| Rating | Rated 4.7 out of 5 |
| Offered by | www.eobipensions.pk |
| Mod Type | EOBI Calculator APK For Android |
The pensions of EOBI- those who EOBI serves face a confusing program that makes it hard for them to determine how much they will receive as they go away. This makes them to be apprehensive and manage their finances badly.
An EOBI pension calculator has been devised so it can help one get an approximate figure thus easing tension in them while encouraging proper planning when retirement comes.
How to Use the EOBI Pension Calculator
The EOBI Pension Calculator allows individuals to estimate their retirement income easily. Below is a step-by-step guide.
- Determine your average monthly wage and the number of years you have been in the EOBI system.
- Put in your average monthly salary and the years you have worked.
- Click on Calculate.
Understanding the Pension Formula
The EOBI pension is calculated using the following formula:
Pension = (Average Minimum Monthly Wages×No. of years of Insurable Employment)/50
This formula makes sure that your pension mirrors your average monthly wages and the years you contributed to the EOBI scheme. If someone earns an average monthly salary made around Rs. 20000 and has insurable employment for twenty-five years, their pension will be as detailed below.
Pension=(20,000×25)/50 = Rs.10,000
In this example, the pension amount is Rs. 10,000 per month, which is the minimum pension rate.
Pension Rates
- Minimum Pension: The minimum pension rate is set at Rs. 10,000 per month.
- Maximum Pension: The maximum pension is calculated based on the formula above, ensuring that individuals receive a fair amount based on their years of contribution and average monthly wages.
Facts and Insights
The scheme covers more than 8 million workers in Pakistan, according to EOBI. This makes it clear many rely on it for assurance in terms of money.
Conclusion
For all those insured under the EOBI scheme, it is important to familiarize oneself with one’s entitlements and how the pension can be computed. The EOBI calculator tool is useful when estimating benefits before one plans on retiring. It is an easy way to know how much pension you will get once you retire with EOBI Calculator. For further information as well as help in this regard please refer to their official webpage at EOBI Pension Information.
