EOBI announces increase in pension

ISLAMABAD: The Employees Old Age Benefits Institution (EOBI) has announced a 15 per cent increase in pensions, raising the minimum monthly pension from Rs10,000 to Rs11,500. The hike will take effect from January 1, 2025.

Pensions above Rs 10,000 will also see a 15 per cent increase. The formal notification on the EOBI pension increase is likely to be issued on May 1, ahead of Labour Day.

In a high-level meeting chaired by Federal Minister for Overseas Pakistanis, Salik Hussain, the EOBI’s performance for fiscal year 2024-25 was reviewed.

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Officials said the institution’s income had surged to Rs116 billion—up 40 per cent from the previous year.

It was also decided that pensioners’ age verification will now rely on CNIC data instead of matric certificates, making the process simpler and more efficient.

The meeting discussed future plans including bringing smaller businesses—with fewer than 10 employees—under EOBI coverage.

Sectors like agriculture, domestic work, legal services, and finance will also be included in the EOBI pension net to widen the country’s social protection footprint.

The move is part of ongoing efforts to strengthen the social safety net and improve the welfare of retired workers across Pakistan.