February 14, 2020 (MLN): Employees' Old-Age Benefits Institution (EOBI) to pay increased pension following the approval of the Board of Trustees and Federal Cabinet, the raise would be Rs 2000 per month.
According to the spokesman of EOBI, the present government in their short tenure has raised the pension amount from Rs 5250 per month to Rs 8500 per month, an increase of almost 62%.
The amount earlier was raised in Sep.2018 from Rs 5250 to Rs 6500 per month and later in Dec.2019 to Rs 8500 per month.
The increase in pension as per regulations would be presented in the BOT and then the following approval it would get the final nod from the Federal Cabinet.
The increase in pension amount would be applicable from January 2020.
EOBI releases around Rs 3 billion as pension amount in January 2020 with around 400,000 retired, old age, survivors and disabled Insured Persons got the pension amount.
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