As of January 01, 2019, the government decided to increase the pension amount by 30 percent, said Thursday Special Assistant to the Prime Minister.
“New year is announcing major news for the retirees of the Old Age Benefits Institution of Employees (EOBI), as the government decided to increase their annuity by 30% from 1 January 2020,” said Zulfikar Abbas Bukhari, Special Assistant to the Prime Minister for Overseas Pakistan and Human Resource Development, speaking at the opening ceremony of the Ciniplex and Commercial Complex on Thursday.
He said that from January 1 next year, Rs 8,500 per month would be received after an increase in the EOBI pensioners.
He said the ministry would move the summary of the increase to a final approval at the next federal cabinet meeting.
He said the government had already increased the EOBI’s insured person’s minimum pension in 2018 from Rs 5,250 to Rs 6,500.
Since the government of Pakistan Tehreek-e-Insaf came to power, the EOBI pension has been raised by 62%.
“By the end of our term (2023), we intend to raise this amount to Rs 15,000,” said Zulfikar Bukhari.