Urged To Increase Pensions of EOBI to Rs.15000 in 2024

Living on a pension of 8500 in 2024 is really tough for many people. The cost of living keeps going up, but pensions aren’t going up with it. This means people in Pakistan are struggling to pay for basic things they need every day. People are speaking up and urged to increase pensions urgently because things are getting harder.

Let’s talk about why pensions not keeping up with the cost of living is a big problem. We’ll also look at what could be done to fix it. We’ll talk about the real challenges pensioners face, like not being able to afford things they need and struggling to keep their money safe.

We’ll also talk about what the government of Pakistan might do to help on urged to increase pensions. Let’s explore these issues together and try to make things better for retired people.

Urged To Increase EOBI Pensions to Rs.15000/ Govt Of Pakistan

When pensioners urged to increase pensions, the government of Pakistan said they would increase pensions to Rs. 15,000 in budget 2021. But by 2024, they still needed to do it. Inflation in Pakistan is very high, making it hard for middle-class families to afford basic needs.

The pensioners urge the government of Pakistan to issue them health cards so they can also take care of their health and live without being trapped in the expenses in this phase of their lives.

Workers are important for a country’s development. They build things and help the economy grow. But in Pakistan, they don’t always get paid enough.

Minimum Pension In Pakistan 

Presently, there are approximately 413,183 beneficiaries under the EOBI across three categories. The minimum pension stands at Rs8,500 per month, with subsequent tiers set at Rs18,000 and Rs21,000 per month, respectively.

Pension calculations are determined by a standardized formula incorporating both the individual’s basic salary and length of service.

What Is The Pension Increase For 2024?

On the recent Labor Day holiday, coinciding with May 1st, 2024, the EOBI Pensioners Welfare Association (EPWA) staged a protest in front of the Karachi Press Club.

Their primary demand was a significant increase in the EOBI pension for private sector employees, urging the government to raise it to Rs 15,000 per month.

What Is The Pension Policy Of EOBI?

Read the pension policy by clicking the button below for a better understanding:  

Remarks From Pensioners

Depending upon the situation we have collected the reviews from pensioners and got their opinions on what they want to make the government of Pakistan take steps: 

Amjad Ali, a 62-year-old retired employee, expressed to one of our reporters the urgent need for the government to raise pensions. He emphasized the growing inflation rate, highlighting the struggle of elderly employees who lack the additional income to sustain a basic lifestyle.

Similarly, another retiree named Muhammad Iqbal urged to increase pensions and questioned the adequacy of living on just Rs. 8,500 amid skyrocketing prices of essential items like bread and wheat.

He raised concerns about coping with the expenses of utilities such as electricity and gas, which consistently increase each month, particularly given the financial responsibilities of supporting an elderly spouse.

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