EOBI initiates inter-bank transfer facility to aide employers in disbursement
This will definitely reduce collection and recovery lead times which impact the pension holder retirement livelihood: EOBI
July 24, 2020
Employees Old-Age Benefits Institution (EOBI) on Thursday announced it is kick-starting an inter-bank funds transfer facility for its registered employers in a bid to ease transactions.
In a statement, the EOBI said: "EOBI aims to ease the process of contribution collection and pension disbursement by all possible means."
"This recent initiative will definitely reduce collection and recovery lead times which will impact the pension holder retirement livelihood," it added.
The Employees’ Old-Age Benefits Institution (EOBI) is the government institution that operates under the Ministry of Overseas Pakistanis and Human Resource Development. EOBI was formed in 1976, to provide pension, old-age benefits and social insurance to registered employees.
