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EOBI Pension Increase in Budge 2024
EOBI is a program designed for people working in private companies or industries. Created on 01 April 1976 under the EOBI Act, 1976. It was made to achieve the objectives of Article 38C of the Constitution.
This program will help increase the number of students enrolled in school and their attendance. This program will increase school attendance and reduce the dropout rate. You must first register for this program if you want to receive educational scholarships.
Benefits of EOBI
EOBI aims to benefit elderly persons or their family members who are working in private companies, industries, or factories and are not able to do any work when they become old.
Under the EOBI Program, these people receive a monthly pension. So that he may live a happy life. Many students have benefited under EOBI.
Illegal Pension
An illegal pension is a pension for persons who have become disabled. These are people who have become permanently disabled.
You can also register for BISP Benazir Nashonuma Program
Participation
This Program never takes financial assistance from the Government to carry out its functions. Employers of industrial and commercial organizations have to pay at least 5% of wages to EOBI. Employees working in factories and industries have to deposit one percent to EOBI.
The EOEB offers the following benefits to an insured person or his dependents. An insured person has the right to receive a pension when they reach 60 years old or have completed 15 years with the policy.
Pension under EOBI is paid after retirement
Pensions are paid in the event of death. The Islamic pension system is designed to assist widows and elderly parents in their daily lives.
If the employee dies at an early age, the program provides pension to the parents of the deceased for up to five years. This program is responsible for providing lifetime residual pension to the widow if the employee dies after completing insurance service. If the widow of the insured person remarries, the children of the deceased will continue to receive the pension. Under this, many people have benefited and changed their lives.
The institution also provides grants to those senior citizens who have attained retirement age but do not meet the minimum threshold at the time of pension.
After meeting all criteria, an employed person receives a pension of at least Rs 8,500. The revised scheme provides for this.
Eobi beneficiaries list
In this list, you will told all the details related to pension.
| Category | Disbursed Pension in Million Rs | Percentage share in total pension | No. of beneficiaries |
| Old age pension | 747 | 78.8 | 141330 |
| Survivors pension | 187 | 19.6 | 52782 |
| Invalidity pension | 8 | 0.9 | 4825 |
| Old age grant | 6 | 0.7 | 3776 |
| Total | 948 | 100 | 202,707 |