EOBI to increase pensions from May 1

The Employees Old-Age Benefits Institution (EOBI) will be increasing pensions starting May 1, and from now on, pension eligibility will be checked using CNIC details, not matric certificates.

This update was shared during a Public Accounts Committee (PAC) meeting held at the Parliament House, chaired by Junaid Akbar Khan and attended by officials from various ministries.

During the meeting, EOBI revealed that over Rs2 billion were wrongly paid to fake pensioners. They found errors in the records of more than 5,000 out of 800,000 pensioners—where the CNIC birth dates didn’t match their matric certificates. Some ineligible people, like men under 60 and women under 55, were receiving pensions, which is against the rules.

EOBI officials also said they’ve already recovered over Rs1.5 billion from different institutions, but Rs2.4 billion is still pending. They expect to recover another Rs1 billion soon, though some cases are still in court.

The PAC chairman instructed EOBI to complete all recoveries within a month.

Officials also shared that EOBI now has a fund of Rs600 billion, and over 10 million businesses are registered in the system.

The Ministry of Overseas Pakistanis confirmed that pension claims will now be settled using CNICs. They also asked the committee for one month to sort out remaining issues. The committee agreed but told the ministry to submit a full report within a month.

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