The federal cabinet has approved a significant 15% increase in pensions under the Employees’ Old-Age Benefits Institution (EOBI). This hike will raise the minimum monthly pension from Rs 10,000 to Rs 11,500. The revised amounts will be paid starting from September 1, along with any arrears, as confirmed by Chaudhry Saalik Hussain, the Federal Minister for Overseas Pakistanis and Human Resource Development.
This increase will offer greater support to pensioners, especially long-serving ones. According to the minister, those who have served the longest will now be eligible for monthly pensions exceeding Rs 30,000. Additionally, the government has instructed EOBI to release Rs 10 billion every month to ensure timely pension payments for retired workers.
The cabinet also decided to broaden the scope of EOBI coverage. A committee has been formed to explore ways to include domestic workers and agricultural laborers under the pension system, expanding its benefits to more workers across Pakistan.
Chaudhry Saalik reiterated the government’s commitment to the welfare of retired employees. Strengthening the EOBI system is part of a broader initiative to provide social security and financial stability to Pakistan’s working class.
The government’s decision reflects its ongoing efforts to improve the lives of pensioners and ensure a dignified retirement for those who have contributed to the nation’s workforce.