ISLAMABAD: In a significant move aimed at enhancing the financial well-being of retired citizens, the federal government of Pakistan has announced a 17 percent increase in the pension provided by the Employees Old Age Benefits Institution (EOBI), raising it to Rs 10,000.
Special Assistant to the Prime Minister (SAPM), Jawad Sohrab Malik, disclosed this development, and said that the pension hike is effective from July 2023. SAPM Malik conveyed this welcome news through social media, sharing the update on the platform X (formerly known as Twitter).
The EOBI Pension increase notification is finally out; slightly delayed however it increases the pension from earlier Rs. 8,500 to Rs. 10,000 (17%) from July 2023. EOBI will disburse the increase from September 2023 together with arrears of July and August 2023. It ushers a minor… pic.twitter.com/OJ4wzKRsfh
— Jawad Sohrab (@JawadSohrab) September 8, 2023
The remarkable rise in pension benefits has been eagerly awaited by hundreds of thousands of individuals who rely on their EOBI pensions as a crucial source of income during their retirement years. This adjustment underscores the government’s unwavering commitment to supporting retired citizens and ensuring their financial security during their golden years.
EOBI Notifies Increase in Pension
As per the notification issued by the EOBI, the increased pension will apply to all pensions received from July 2023 onwards. To address any financial concerns arising from the delay in implementing this adjustment, the EOBI has taken a commendable step by disbursing the augmented amount, including arrears for the months of July and August 2023, starting from September 2023.
SAPM Malik emphasized that this announcement not only reflects the government’s dedication to the welfare of its citizens but also provides much-needed relief to countless pensioners who have been eagerly anticipating this positive change.
