ISLAMABAD A 15% rise in pensions offered by the Employees’ Old-Age Benefits Institution (EOBI) was authorized by the federal cabinet on Wednesday. The increase will take effect on January 1, 2025.
The Ministry of Overseas Pakistanis and Human Resource Development’s recommendation served as the foundation for the cabinet’s decision. The institution’s own funds will be used to pay for this increase.
Prime Minister Shehbaz Sharif presided over the federal cabinet meeting, which was place here. A cabinet committee was established under the prime minister’s direction to implement institutional improvements in EOBI.
Proposals to expand old-age benefits to the informal labor sector, which includes domestic workers, agricultural laborers, and other marginalized job categories that have been disregarded in the past, will also be discussed by the committee.
