This institution issues cards to all registered pensioners.
The government is expected to increase pensions from the Employee Old Age Benefit Scheme (EOBI) to 10,000 rupees per month from the current 8,500 rupees per month in the federal budget next year.
Given the current economic situation and financial constraints, a person familiar with the matter told the Express Tribune that the pension cannot be increased any further. Currently, EOBI benefits his 430,000 registered pensioners with his R4 billion.
Dr Javed Shaikh, Deputy Secretary General of EOBI, said that EOBI for this year has been given a funding target of Rs 33.5 billion. However, its contribution exceeded 36 billion rupees in May, with another 4 billion rupees expected in June.
“In this way, by the end of this year, [June 30, 2023]the amount of receipts in the form of EOBI donations will increase by 30% over the target set, Dr. Shaikh told the Express Tribune.
According to EOBI officials, 90% of the agency’s pension cases have been settled and more than 4 billion rupees have been paid out to 430,000 registered pensioners. “The agency pays out a total of Rs 52 billion annually.”
This institution issues cards to all registered pensioners. Through the EOBI card, a pensioner can easily withdraw his pension amount from his ATM machines and other easy money facilities located in any city or region in the country.