ISLAMABAD: A parliamentary body on Thursday recommended an increase in the Employees Old-Age Benefit Institution (EOBI) formula-based pension.
The sub-committee of the National Assembly Standing Committee on Overseas Pakistanis and Human Resource Development, presided over by the convener MNA Mahreen Razzaq Bhutto, recommended an enhancement in the EOBI pension.
The EBOI is a social security organization that provides pensions, retirement benefits, and social protection to registered workers in the formal sector. The present minimum EOBI pension is Rs 11,500 per month.
Convener Mahreen Razzaq Bhutto asked the Ministry of Overseas Pakistanis and Human Resource Development (MOPHRD) to review the formula of pension, and present a proposal regarding the changes in the formula during the next meeting of the committee.
She also issued directives to study international models before the review of the pension’s formula.
The committee was informed that the EOBI is managed and administered by a tripartite Board of Trustees (BoT), which includes representation from the federal government, provincial governments, and representatives of employers and employees. The BoT is headed by the Secretary of the MOPHRD.
Copyright Business Recorder, 2025
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