Government announces 20% increase in EOBI pensions

Published January 31, 2019
The federal cabinet had accorded approval to a 20pc increase in the EOBI pensions last week. — File
The federal cabinet had accorded approval to a 20pc increase in the EOBI pensions last week. — File

The federal government on Wednesday issued a notification announcing a 20 per cent increase in the pension rate for Employees Old-Age Benefits Institution (EOBI) pensioners.

The government has also set the minimum amount of pension at Rs6,500 per month, according to the notification issued by the Ministry of Overseas Pakistanis and Human Resource Development.

The changes will go into effect retrospectively, starting on September 1, 2018.

The federal cabinet had accorded approval to a 20pc increase in the EOBI pensions last week.

According to the notification, the decision was taken in exercise of powers conferred on the government by the Employees Old-Age Benefits Act, 1976.

Opinion

Editorial

Smog hazard
Updated 05 Nov, 2024

Smog hazard

The catastrophe unfolding in Lahore is a product of authorities’ repeated failure to recognise environmental impact of rapid urbanisation.
Monetary policy
05 Nov, 2024

Monetary policy

IN an aggressive move, the State Bank on Monday reduced its key policy rate by a hefty 250bps to 15pc. This is the...
Cultural power
05 Nov, 2024

Cultural power

AS vital modes of communication, art and culture have the power to overcome social and international barriers....
Disregarding CCI
Updated 04 Nov, 2024

Disregarding CCI

The failure to regularly convene CCI meetings means that the process of democratic decision-making is falling apart.
Defeating TB
04 Nov, 2024

Defeating TB

CONSIDERING the fact that Pakistan has the fifth highest burden of tuberculosis in the world as per the World Health...
Ceasefire charade
Updated 04 Nov, 2024

Ceasefire charade

The US talks of peace, while simultaneously arming and funding their Israeli allies, are doomed to fail, and are little more than a charade.