Tue. Apr 16th, 2024
EOBI - Old Age Benefits Institution Update 2024

EOBI – Old Age Benefits Institution Update 2024

The EOBI program has been started to provide support to the employees of the Old Age Benefits Institution Government of Pakistan to increase pension and social security and to provide support to them.

The EOBI program is specially designed for senior citizens so that they can lead their lives in a better way and not be dependent in their old age.

So that the old people who cannot earn can also be given help. To benefit the development of humanitarian issues, it was brought into existence in 1976 by the Parliament through the approval of the Benefit Institutions Act 1976 for the elderly in the country of Pakistan.

In the Chairman of the Old Age Benefit Institution, the old age benefits of the insured persons have been extended to their dependents. Therefore, the old people should get registered in the benefit institution. So that they can get help from the government even in their old age.

You can also read Ehsaas Program 8171 New Registration Form

EOBI - Old Age Benefits Institution Update 2024

Benefits Of EOBI 

The benefit institution assists the elderly in the country of Pakistan through an insurance policy. An insured person reaches the age of 60 and after completing 15 years of insured service is registered to receive pension from Old A.

This pension is paid in the form of pension to the old, apart from this, old fathers are also being given pensions for their daughter’s marriage and support for their children.

Its minimum payment of 800 is being given through the scheme, this insurance scheme has been limited to years.

So there are more than 2 Lac people entitled to this scheme and under EOB those old people who are completely disabled are included. When they have retired from their jobs, their age has increased, but this does not happen, a special age is also required for a pension.

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CategoryDisbursed Pension in Million RsPercentage share in total pensionNo. of beneficiaries
Old age pension74778.8141330
Survivors pension18719.652782
Invalidity pension80.94825
Old age grant60.73776
Total9481002

You can also read Ehsaas Program 8171 New Registration Form

Pension Rates:

Contributions

EOBI does not get any other financial support except for carrying out its work. A five percent fee is to be paid to the industrial organizations in equal parts. Where the EOBI Act has been implemented, the minimum wage by the employees of the above organizations should be equal to one percent.

EOBI Growth

RegistrationParticipating EmployersInsured EmployeesBeneficiaries
197754478807
1999426321,465,087164,203
2000435601,572,014181,547
Growth(%) 99-’002.27.310.6

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