The Employees Old Age Benefits Institution (EOBI) has announced an increase in the minimum pension, a move aimed at benefiting pensioners across the country.
The increase, effective from January 1, 2025, will see the minimum pension rise from Rs10,000 to Rs11,500. Pensions above Rs10,000 will also see an increment of 15%.
The decision was made following a briefing held on Monday under the chairmanship of Federal Minister for Overseas Pakistanis, Salik Hussain. T
he meeting reviewed EOBI's performance for the fiscal year 2024-25, where it was revealed that the institution earned an income of Rs 116 billion, marking a 40% increase in its revenue compared to the previous year.
The briefing highlighted the institution's progress and future proposals, including a plan to expand the EOBI's coverage to institutions with fewer than 10 employees.
This would ensure more workers benefit from pension schemes. Additionally, the government has decided to extend EOBI coverage to sectors such as agriculture, domestic work, finance, and legal institutions, further strengthening the scope of social security in Pakistan.
The formal announcement of the pension increase is expected to coincide with Labor Day on May 1, 2025, providing a timely boost to pensioners as part of the country’s ongoing efforts to enhance social welfare.
