ISLAMABAD: The Employees’ Old-Age Benefits Institution (EOBI) has updated its statistics and its official website now shows the number of employers registered with it stands at 133,564, out of which 86,989 are active.

A week ago, the EOBI’s website was showing that out of the total 130,530 registered employers, 84,811 were active, with 41,685 of them having closed businesses and 4,023 de-registered.

EOBI spokesman Naeem Shaukat told Dawn that the figures on the official website had erroneously been added. He said the actual number of registered employers at present was 133,564.

He said the number of active employers had increased to 87,147 in 2021 from 67,645 in 2013-14, while more than 100 per cent growth in contribution collection had been achieved during the same period.

The investment portfolio had grown from Rs330 billion to Rs375bn over the past three years, he added.

The EOBI is paying approximately Rs40bn to more than 400,000 pensioners annually, while the rate of minimum pension has been increased twice during the last two years, from Rs5,250 to Rs8,500, which shows the strength and stability of the fund.

The actuarial study of the EOBI fund conducted last year also endorsed financial viability of the fund for next 15-20 years, which showed prudent investments were made in recent years and the institution as a pension fund is well set to meet its future obligations.

Published in Dawn, April 28th, 2021