EOBI decides to raise minimum pension

ISLAMABAD: The Employees' Old-Age Benefits Institution (EOBI) has decided to increase the minimum pension, with the change set to take effect from January 1, 2025.

The decision was made during a meeting chaired by Federal Minister for Overseas Pakistanis, Salik Hussain, where EOBI’s performance over three quarters was reviewed.

During the briefing, officials disclosed that EOBI generated an income of Rs116 billion for the fiscal year 2024–25, marking a 40% increase in earnings.

The minimum pension has been raised from Rs10,000 to Rs11,500. Meanwhile, pensions exceeding Rs10,000 will see a 15% increase. The formal announcement of the pension hike is expected to be made on Labour Day, 1 May.

Additionally, the meeting discussed extending EOBI’s legal coverage to institutions employing fewer than ten workers. It was also decided to include agricultural, domestic, financial, and legal sectors under EOBI’s protection framework.