Employees Old-Age Benefits Institution (EOBI) is all set to launch an online employee registration system in January next year.
During a meeting at the Islamabad Chamber of Commerce, Chairman EOBI, Azhar Hameed, said that the online system will empower the registered employees.
Within a few months, the reforms undertaken by EOBI will start bearing fruit. Not only will it increase transparency in the department but it will also transform it into a service-oriented organization.
Azhar says that EOBI authorities will not pressurize any business entities. If any business establishment feels they are being coerced or pressurized by EOBI, they should inform me, said Azhar.
All around the world central governments manage pension funds, however, in Pakistan provinces manage EOBI after the 18th amendment. This has caused several problems.
For instance, many organizations have registered their employees with EOBI. However, contributions made by these organizations are inadequate. The limited number of EOBI buildings is another issue that impedes the financial growth of the organization.
Chairman EOBI termed the investments made from the department’s pension fund as safe. The department also plans to increase the minimum pension of the registered employees. A facilitation desk will also be established to solve pension related issues.
President of Islamabad Chamber of Commerce & Industry, Muhammad Ahmed Waheed, urged EOBI to raise minimum pension from Rs. 6,500 to Rs. 15,000. The institution must streamline the process of issuing pension to the deceased employees. The organization must fix the issue of unnecessary delays in the issuance of the registration cards.