EOBI Pension Expected to Increase — Revision of Pension Formula

A parliamentary body on Thursday recommended raising the Employees’ Old-Age Benefits Institution (EOBI) pension by revising the current formula-based system. A sub-committee of the National Assembly Standing Committee on Overseas Pakistanis and Human Resource Development, chaired by MNA Mahreen Razzaq Bhutto, requested the ministry to prepare proposals for the pension adjustments.

At the meeting, Bhutto emphasized the need for a comprehensive review, stating, “The Ministry of Overseas Pakistanis and Human Resource Development should review the existing mechanism and study international models before finalising a new formula.”

Officials informed the committee that the current minimum EOBI pension is Rs. 11,500 per month. They also highlighted that the institution is managed by a tripartite Board of Trustees, which includes representatives from the federal government, provincial governments, employers, and employees, and is headed by the secretary of the ministry.

The committee’s recommendation marks a significant step toward potentially increasing pension benefits for retirees under the EOBI scheme.