ISLAMABAD: Employees Old Age Benefits Institution (EOBI) has disbursed an amount of Rs10.985 billion to 330,645 beneficiaries during first three quarters of this year.
The EOBI also plans to accommodate 15,744 more beneficiaries up to June this year as an additional amount of Rs4.876 billion is allocated for Old-Age Pension, Survivors Pension, Invalidity Pension and Old-Age Grants.
Sources at EOBI on Thursday said the Constitution makes it obligatory for the state to provide social security by compulsory social insurance or by any other means to all persons employed in service of Pakistan or otherwise.
The sources said on fulfilling the prescribed conditions regarding qualifying age and payment of contribution etc., the Employee Old Age Benefits Institution (EOBI) provides monetary benefits to old age workers through various programmes.
These programmes are old age pension on attaining superannuation, invalidity pension on sustaining, invalidity affecting insured person's earning more than one third of the normal, survivors pension in case of death of insured person/pensioner and old age grant not meeting the benchmark for old-age pension.
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