After a long time of requesting and appealing, finally, the government of Pakistan is considering increasing the EOBI pension amounts. We will see a change in pension amounts in July 2023. The new pension amount will be Rs. 10,000 whereas the current amount is Rs. 8500.
Dr. Javed Shaikh who is the Deputy Director General of EOBI said to the media that we are committed to distributing Rs. 33.5 billion as an EOBI pension in this current year whereas we have already distributed Rs. 4 billion to 430,000 employees in May 2023.
Due to the hike in inflation and the increasing ratio of poverty in our society, it is almost impossible to live a happy life with only Rs. 8500 per month. The prices of grocery items like cooking oil, meat, milk, lentils, and vegetables are already talking to the sky. So in this recession, a family can not survive on an eighty-five hundred monthly pension amount.
July 2023 is Going to Be a Good Month for EOBI Employees
Our resources told us that now Employees’ Old Age Institution (EOBI) pensions will rise in the month of July. So it is great news for all the employees who were looking for an upgrade of their pensions.
In the National Assembly of Pakistan, Shahadat Awan who is the Minister of State for Law and Justice said to the assembly that we have hired an expert to execute the new pension amounts and plans for the upcoming months. Also, he said that we have already catered to 413,000 employees who are registered with EOBI.
Dr. Javed Shaikh told us that we will grant 30% more pension amounts in the next fiscal year as the current fiscal year will end in June 2023.
Another milestone is covered as EOBI officials said to us that we have paid over 90% of EOBI pension holders this year which is worth Rs. 4 billion and it is distributed to 430,000 registered EOBI pensioners in 2023.
Will Pension Really Increase in July?
According to the reports, we can say that there is a 90% chance that the pensions will be increased in July. The reason is that Rs. 8500 is not enough even for a single person to live a good life in this era. The economy is nose-diving and recession is growing day by day so it is not a good thing to keep sticking with those low pension prices.
So this is the news about the EOBI pension increase and we hope you will find it helpful. If you have any questions, you can ask us.