Islamabad, September 8, 2023 – In a move aimed at improving the financial well-being of retired citizens, the federal government announced on Friday a significant increase of 17 percent in the pension provided by the Employees Old Age Benefits Institution (EOBI), raising it to Rs 10,000.
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Special Assistant to the Prime Minister (SAPM), Jawad Sohrab Malik, made this announcement, and the increase is effective from July 2023. SAPM Malik conveyed this development through social media, sharing the news on X (previously known as Twitter).
The substantial increase in pension benefits has been eagerly anticipated by hundreds of thousands of individuals who rely on their EOBI pensions as a vital source of livelihood during their retirement. This adjustment underscores the government’s commitment to supporting retired citizens and ensuring their financial security in their golden years.
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According to the notification issued by the EOBI, the increased pension will apply to all pensions received on and after July 2023. To address any financial concerns stemming from the delay in implementing this adjustment, the EOBI has taken a commendable step by disbursing the increased amount, along with arrears for the months of July and August 2023, starting from September 2023.
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SAPM Malik emphasized that this announcement not only reflects the government’s dedication to the welfare of its citizens but also provides much-needed relief to countless pensioners who have been eagerly awaiting this welcome change. The increase in EOBI pension is expected to have a positive impact on the financial security and well-being of retired individuals across the country.
