EOBI Pension Increase Notification 2024 Update
Attention to all EOBI-insured people: We’d like to inform you about the EOBI Pension Increase Notification that the pension amount was increased from Rs. 6500 to Rs. 8500, effective January 1, 2020. Since this adjustment in 2020, there have been no additional increments in the pension amounts.
However, we are committed to keeping you informed about any changes. If EOBI announces a pension increase in 2024 or any other updates, we will update this information on our website.
To ensure you stay updated with the latest EOBI Pension Increase notifications updates and changes regarding EOBI pensions, we encourage you to visit our website regularly. Your awareness and understanding are essential, and we are here to provide you with the most current information.
Is the EOBI Pension Increased?
The EOBI pension has risen from Rs. 6500 to Rs. 8500, starting January 2020 for everyone earning the minimum wage. If you’re insured with EOBI, you can see your new pension amount on their website.
The Employees’ Old-Age Benefits Institution (EOBI) provides pensions to older people, including those who’ve retired. January 2020 pension increase has been deposited into the bank accounts of pension recipients. You can find more details about your pension on EOBI’s website.
EOBI Pension Increase Notification 2019
The Employees Old-Age Benefits Institution (EOBI) issued an EOBI Pension Increase Notification on 25-02-2019 to clarify the increased pension rates. Here’s the details:
The Ministry of Overseas Pakistanis and Human Resource Development, Government of Pakistan, issued a notification (#7(3)2018-EOBI) on January 20 2019. They have approved a 20% increase in the pension rates for pensioners. The minimum pension amount has been set at Rs. 6,500 per month. This change is effective from September 1, 2018.
To make sure the new rules from the notification are followed correctly, we need to stick to the following guidelines carefully and fully.
i. Pensioners who used to get Rs. 5,250 from the Employees Old-Age Benefits Institutions (EOBI) will now receive a minimum pension of Rs. 6,500 as per the notification issued on 25-02-2019.
ii. Pensioners with reduced or formula-based pensions will get a 20% increase in their current pension amount.
iii. Pensioners with formula pensions between Rs. 5,260 and Rs. 5,417 will get a 20% increase, rounding off their minimum pension to Rs. 6,500.
iv. Pension increases for formula and reduced pensions will apply to those whose First Information Report (FIR) was filed between 01.09.2018 and 30.06.2019. The minimum pension of Rs. 6,500 will continue in the following financial years.
v. Pensioners who filed an FIR between September 1, 2018,, and June 30, 2019,, will receive arrears with a 20% increase for formula or reduced pensions. FIRs filed on or after July 1 2019, won’t qualify for this benefit.
A big thank you to Mr. Zahid Khan for sharing the notification about the clarified increased rates for EOBI pensions.
When Will The EOBI Pension Increase?
Are you waiting for the EOBI pension to increase? There’s news about a rise from Rs. 8,500 to Rs. 15,000, but no date is set yet. Despite requests from employees, EOBI has not taken action. If you want more details in Urdu, you can check the pension rules.
Remember, EOBI pensions are funded by both employees and employers, not by the Pakistani government. Employees contribute 1% of their salary, while employers contribute 5% of their employees’ salary towards pensions. This is how EOBI funds the pension program for retired workers without any government support.
What Is The Latest EOBI Contribution Rate?
EOBI Update as per new Minimum Wage 2024
The EOBI contribution is 6% of the minimum wage, which is 32,000. For employees, this is 1% of 32,000, which equals 320. Employers contribute 5%, which is 1,600. So, the total contribution, combining both employee and employer contributions, is 6% of the minimum wage, which amounts to 1,920. This means that both the employee and employer contribute 1,920 to the EOBI together.
Please let us know in the comments below if you need any more information regarding the EOBI Pension Increase Notification.
KIA July 2024 say eobi ki pension main koi increase hay ya,nahi
your system is not updated. eobi work style is very slow and inefficient. even eobi remained fail to transfer information to its insured person to update them regarding EOBI news and information. Now minimum labour wages increased from 32500 to 37000 but notification is still not uploaded on your website. EOBI staff are non cooperative with pensioner even staff not guide properly for rights of pensioner. Pensioner file put in basket if not push up periodically. Staff attitude is very rode with pensioner as pay pension from their packet.There no guide line for pensioner are their family.
Thank you for your feedback. It seems that there are significant issues with the EOBI system, including slow updates, inadequate communication, and poor staff support. The recent increase in minimum labor wages and the delay in updating this information on the website are concerning. The lack of proper guidance and uncooperative behavior from staff are unacceptable.
We will escalate these issues and advocate for better service and communication. Your concerns are valuable, and we hope improvements will be made soon.
your system is not updated. eobi work style is very slow and inefficient. even eobi remained fail to transfer information to its insured person to update them regarding EOBI news and information. Now minimum labour wages increased from 32500 to 37000 but notification is still not uploaded on your website. EOBI staff are non cooperative with pensioner even staff not guide properly for rights of pensioner. Pensioner file put in basket if not push up periodically. Staff attitude is very rode with pensioner as they pay pension from their packet.There are no guide line for pensioner are their family.
Thank you for your feedback. It seems that there are significant issues with the EOBI system, including slow updates, inadequate communication, and poor staff support. The recent increase in minimum labor wages and the delay in updating this information on the website are concerning. The lack of proper guidance and uncooperative behavior from staff are unacceptable.
We will escalate these issues and advocate for better service and communication. Your concerns are valuable, and we hope improvements will be made soon.
Sir this is our appeal and demand is to raise our pension.given pension is to much less how to get our medicine and grocry and other expenses.
Your concern is completely valid. It’s crucial that pensions are sufficient to cover basic needs like medicine, groceries, and daily expenses. Raising the pension amount would greatly help those who are struggling to make ends meet. Your appeal deserves serious consideration.