EOBI pensions

The federal government set a minimum wage of Rs37,000 per month in the 2024-25 budget, yet EOBI pensions were once again neglected, with no mention of an increase. From my understanding, the Employees’ Old-Age Benefits Institution (EOBI) generates an annual income exceeding Rs140 billion, with around Rs54 billion allocated for pensions and Rs4 billion for employee salaries and perks. This results in a net income of approximately Rs82 billion. It’s baffling that despite such a significant surplus, pensioners are left struggling with an inadequate monthly allowance that doesn’t meet even basic expenses.

Given this financial capacity and the ongoing inflation, it is time to raise the minimum EOBI pension to Rs37,000 per month, allowing pensioners to afford basic necessities with dignity. Prime Minister Shehbaz Sharif needs to address this issue urgently to ensure the survival of pensioners who rely on these payments as their sole source of income after retirement.

Engr Asim Nawab

Islamabad