Employees Old-Age Benefits Institution (EOBI) is facing an imbalance with pension disbursement and collection of employer contribution. This issue needs to be addressed at the earliest so that timely disbursement of pensions continues to happen.
It should be noted that EOBI distributes around Rs. 2 billion every month to 400,000 old age pensioners.
This was informed by EOBI Chairman Khaqan Murtaza in a briefing to Federal Minister for Overseas Pakistanis and Human Development Sadarurddin Shah Rashadi. The Federal Minister visited the EOBI Head Office Karachi on Monday. The briefing was also attended by senior officials of EOBI and the concerned ministry.
During the briefing, Sadarurddin Shah Rashadi directed the EOBI management to increase the laborers’ registration. For new registrations, EOBI must start an awareness campaign across the country. EOBI must ensure that every deserving laborer is registered with the organization and not left out of pension cover. He also added that in case of death of the breadwinner, their family continues to avail their basic rights.
About new registrations, Khaqan Murtaza informed the minister that EOBI is facing huge resistance in this matter. On one hand, the amount of pensioners keeps on increasing but fund collection from employers does not growing accordingly. EOBI distributes pension among 400,000 elderly laborers and every year 40,000 new pensioners are added to the list. The minimum pension is Rs. 5250 per month.
“EOBI distributed more than Rs. 24 billion yearly. This year the collection target was Rs. 22.6 billion, an almost Rs. 2 billion dip in actual collection and disbursement. This needs to be rectified as early as possible and some steps need to be taken in this regard,” Khaqan added.
Khaqan also told the briefing that to give relief to elderly pensioners, EOBI is also allowing pensions to be withdrawn from ATM. Now pensioner can withdraw their money at any time and anywhere. EOBI made arrangements with Bank Alfalah to work on this project smoothly. All EOBI pensioners can obtain ATM cards for the purpose.
“Now our pensioners can withdraw their money at any time and from anywhere. They don’t have to wait in long lines to get their pension.”
