The Employees Old Age Benefits Institution (EOBI) has unveiled a significant pension increase, marking a positive step for pensioners across Pakistan. Effective January 1, 2025, the minimum pension will increase from Rs10,000 to Rs11,500, while pensions above Rs10,000 will also see a 15% hike.
This decision was made following a review meeting on Monday, chaired by Federal Minister for Overseas Pakistanis, Salik Hussain. During the meeting, EOBI’s performance for the fiscal year 2024-25 was evaluated, revealing a remarkable 40% increase in the institution’s revenue, which reached Rs 116 billion, compared to the previous year.
The briefing also outlined future plans, including expanding EOBI’s coverage to institutions with fewer than 10 employees, ensuring that more workers can benefit from pension schemes. In addition, the government has decided to extend EOBI coverage to various sectors such as agriculture, domestic work, finance, and legal institutions, further broadening the scope of social security in the country.
The formal announcement of this pension increase will coincide with Labor Day on May 1, 2025, providing a timely and much-needed boost to pensioners and reinforcing Pakistan’s commitment to improving social welfare.
