Why is EOBI Not Increasing a 35000 Pension? Understanding the Challenges and Concerns

The Employees’ Old-Age Benefits Institution (EOBI) is a lifeline for many retirees in Pakistan. Established in 1976, it’s supposed to offer financial protection to workers and their families after retirement, disability, or death. But right now, it’s falling short of its promise. Many pensioners are asking, why is eobi not increasing a 35000 pension?

The Current Situation

The current minimum pension provided by EOBI is Rs. 10,000. For many, this amount is woefully inadequate to cover basic living expenses, especially with the rising cost of living and inflation. Pensioners are asking the critical question, Why is EOBI not increasing a 35000 pension?

Key Concerns of Pensioners

Inadequate Pension Amount

Imagine working your entire life, contributing to a system that promises to take care of you in your golden years, only to find out that your pension doesn’t even cover the basics. That’s the reality for many EOBI pensioners right now.

Rising Cost of Living

With inflation and the cost of living going up each year, Rs. 10,000 just doesn’t cut it anymore. Many pensioners are struggling to make ends meet, leaving them feeling forgotten and desperate.

Lack of Transparency and Communication

Pensioners want to know why the increase hasn’t happened. They need transparency from EOBI about the constraints and challenges preventing the pension from being raised.

Factors Preventing the Increase

Funding Issues

One of the main reasons for not increasing the pension amount is funding. EOBI’s pension system is financed through contributions from both employers and employees. Balancing these contributions while ensuring a significant increase in the pension is a complex challenge.

Governmental Constraints

The EOBI operates under the Ministry of Overseas Pakistanis and Human Resource Development. Any changes to the pension scheme would require significant governmental approval and budget allocation. The bureaucracy involved often slows down the process.

Economic Stability

Increasing the pension to Rs. 35,000 would require a significant adjustment in the budget. The government must consider the country’s overall economic stability before making such a substantial change.

What is EOBI Doing?

Reviewing Policies

EOBI claims to be continually reviewing its policies to find ways to increase pensions. But for many pensioners, these reviews seem like empty promises without any concrete action.

Engaging Stakeholders

Discussions with stakeholders, including employers and government bodies, are ongoing. These discussions aim to find a balanced approach to increasing the pension while maintaining the system’s sustainability.

Future Plans

While there isn’t a specific timeline yet, EOBI has indicated that they are working on a plan to increase pensions. However, this process is slow, and pensioners need immediate relief.

Conclusion

Pensioners deserve answers to why is EOBI not increasing a 35000 pension. The reality is that while EOBI and the government are aware of the inadequacy of the current pension, various financial and bureaucratic constraints are delaying the increase.

If you are a pensioner or a stakeholder, your voice matters. Keep pushing for transparency and fair treatment. And remember, change is often slow, but with persistent efforts, it can happen.

If you have questions or need more information, don’t hesitate to reach out to EOBI directly or contact your local representatives to express your concerns. Your future deserves attention—don’t settle for less.