EOBI Pension Rules in Urdu – 2024 Updated

ByMumtaz Awan
EOBI pension rules in Urdu

If you want to understand EOBI pension rules in Urdu, you’re in the right place! Pension rules can be hard to understand, especially for older people who struggle with English. That’s why we’ve translated all the EOBI pension rules into Urdu.ย 

Whether you’re new to pensions or just need a reminder, our translated guidelines will help you understand everything without language problems. Check out the rules to know all about your pension benefits!

EOBI Pension Rules in Urduย 

Here is detailing the regulations and procedures of 2024 available in Urdu for easy understanding, and you can also download it as a PDF for convenient access.

EOBI Pension Rules in Urdu PDF downloadย 

Download PDF File

What is EOBI policy 

This rule was made on April 23, 1972, to start the Old Age Pension plan. It suggested giving a pension of Rs. 60 after working for 20 years. The retirement age was set at 55 years for men and 50 years for women.

This rule aimed to help people who were old and couldn’t work. The government wanted to give a pension to give money to those who had worked for a long time. Men could retire at 55, and women at 50, showing the common beliefs about work and stopping work back then.

Who is Eligible for EOBI Pension

  • Individuals must be employed in Pakistan’s private sector.
  • Typically, individuals need to reach a specific age, usually retirement age (age of 60 years and 15 years of service), to qualify for benefits.
  • Applicants need to have contributed to the EOBI fund during their employment.
  •  If a person passes away before reaching the age of 60 after completing five years of service and leaving their job for any reason, their wife is entitled to receive a pension.
  • The eligibility criteria remain the same for females. as, if a female passes away, her husband is entitled to receive EOBI pension, with the only difference being that females become eligible for the pension when they reach 55 years of age.
  • Sometimes, being married or not could impact eligibility for specific benefits.
  • EOBI might offer benefits for various other circumstances, like marriage or funeral grants.
Who is Eligible for EOBI Pension

FAQs 

The EOBI pension depends on your average monthly salary and how many years you’ve worked. They use a formula that multiplies your average monthly wage by a percentage linked to your years of service, up to a limit set by EOBI.

Jawad Sohrab Malik, the Special Assistant to the Prime Minister, shared on X (formerly known as Twitter) that the EOBI has raised the pension by 17%. Now, the pension will go up from Rs. 8,500 to Rs. 10,000 starting from July 2023.

The President of Pakistan approved the Act on 15th April 1976, and it was published in the Official Gazette on 19th April 1976. Even though it started right away, contributions started from 1st July 1976 as per section 9 of the Act.

To claim your pension from EOBI, you need to submit a pension claim form along with required documents like CNIC, service certificate, and bank account details to the nearest EOBI office.

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