THE federal government has, vide a notification dated Jan 30, 2019, increased the amount of monthly EOBI (Employees Old Age Benevolent Institution) pension from Rs5,250 per month to Rs6,500 with retrospective effect, that is from Sept 1, 2018.

The last increase in the EOBI pension amount was given in April 2015, when it was increased to Rs 5,250 pm.

The EOBI scheme is now being administered through Bank Alfalah and the pensioners withdraw their money through ATM cards. However, the machines only accept a figure in multiple of Rs500. Consequently the pensioners have to wait for two months to get the full amount of pension and Rs250 arrears of the previous month.

The recent notified increase will enable pensioners to draw full pension in one transaction, which is a commendable step by the government.

The federal government is also requested to rescue the EOBI from the numerous challenging issues it faces following the devolution of labour laws after the 18th Amendment.

Parvez Rahim

Karachi

Published in Dawn, February 3rd, 2019