ISLAMABAD:Minister of State for Law and Justice Shahadat Awan on Wednesday informed the National Assembly that monthly pension of Employees’ Old-Age Benefits Institution (EOBI) would increase from July.
Replying during Question Hour, the minister said that some over 400,000 people were getting monthly EOBI pension ranging from Rs 8500 to Rs 21,000.
Currently, the monthly pension of EOBI stood at Rs 3.9 billion against total contribution of Rs 3.2 billion.
He said no government was involved in payment of EOBI pension.
The EOBI pension was mere Rs 2000 per month in 2018, Rs 3000 in 2008, Rs 6500 in 2018 and Rs 8500 since 2020.
He said firm has been engaged to finalize for assessing assets of the EOBI. The report of firm would be completed by May adding that in light of the assessment, pension would be increased, he added.
He said EOBI was a trust and created in July 1976 under an Act of Parliament in compliance with Article38-C of the Constitution.