ISLAMABAD: Employees' Old-Age Benefits Institute (EOBI) would provide monetary benefits to about 385,332 its eligible insured persons and their survivors during current financial year (2014-15).
An official of EOBI told APP here on Thursday that EOBI will disburse Rs16.790 billion among its eligible insured persons and their survivors fulfilling the prescribed conditions regarding qualifying age and payment of contribution.
He said that these benefits have proved to be a major factor in combating poverty adding that scheme may be used as a major poverty alleviation vehicle if its coverage is enhanced to total working population, he added.
He said that during July-March 2013-14, EOBI disbursed Rs10.98 billion to some 330,645 beneficiaries in terms of different benefits.
The Institute is providing different benefits to its beneficiaries like old-age pension, survivor's pension, invalidity pension and old age grants for their economic stability, he added.
He further informed that EOBI will disburse Rs10.571 billion in its 238,667 beneficiaries in terms of old age pension benefits during current financial year as the Institute had disbursed Rs6,916 million in 205,298 beneficiaries during same period of last financial year.
The EOBI has planed to provide Rs5,890 million to 137,342 beneficiaries in terms of survival pension and Rs238 million in 5,774 beneficiaries in terms of invalidity pension during 2014-15, he added.
The official said that Rs91 million to be disbursed in 3,594 beneficiaries as old-age grant during current financial year, he added.
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