F.P. Report
KARACHI: The Employees’ Old Age Benefits Institution (EOBI) has demonstrated strong commitment for the well-being of its pensioners amidst challenging economic conditions. EOBI has increased the Minimum Pension from Rs. 8,500 to Rs. 10,000 for over 400,000 pensioners, providing much-needed relief during this period of high inflation. This has been done despite the fact that the Institution is faced with huge liabilities amounting to over Rs. 2 Trillion for which the Institution is requesting the Government to provide support to the Institution.
Despite facing a shortage of employees, EOBI has surpassed its assigned target for contribution collection of Rs. 33.55 Billion for the current fiscal year, achieving remarkable results in just eleven months. The Institution has collected Rs. 36.42 Billion recording an increase of 34.81% as against 11 month collection of last year.
In comparison to the previous year’s collection of around Rs. 27.019 billion in eleven months, EOBI has set a new record by achieving a contribution collection of Rs. 36.42 billion during the same period this year. This accomplishment signifies an increase of 34.81% in eleven-month contributions. Such strong outcomes can be attributed to the relentless hard work and dedication of the core Operations Divisions, along with the invaluable support of all other departments within the Institution, especially the Finance, Investment and Law Divisions.
The success of EOBI not only lies in its ability to collect record contributions since its inception but also its commitment to provide extended benefits to its primary stakeholders-the pensioners of EOBI. In current year an additional number of 39,944 pensioners received pension whereas Institution added 543,096 new insured persons
EOBI remains committed to enhancing the welfare of pensioners and will continue to strive for excellence in its services. The Institution’s resolute focus on its mission ensures that pensioners receive the support they deserve, even in challenging economic circumstances.
