EOBI has limited resources and apparently it is not in a position to enhance the amount of pensions
KARACHI: Most of the Employees Old-Age Benefit Institution (EOBI) pensioners receive a monthly pension of Rs5,250. With this meagre pension cum-income they are hardly able to meet their daily expenses and are compelled to live in hardship. The EOBI has limited resources and apparently it is not in a position to enhance the amount of pensions substantially by its own means.
In view of the above it becomes necessary that the federal and provincial governments allocate reasonable amounts in their forthcoming budgets for the benefit of the EOBI pensioners just as they do for retired government employees. Based on the said allocation of amount in the budgets by the government the benefits under EOBI scheme can be enhanced substantially.
If the government and the institution take the necessary action to increase the allowance amount for pensioners it will be a major step towards improvement in the standard of living of those who primarily rely on pension as a major source of their monthly income.
Abdul Alim Nasir
Published in The Express Tribune, April 25th, 2018.
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