Pensioners under the Employees’ Old-Age Benefits Institution (EOBI) will finally receive their long-awaited pension hike, as the government has announced that the revised payments will be disbursed along with the September 1 pension. The adjustment, effective from January 2025, includes all arrears accumulated since the start of the year.
EOBI officials confirmed that the September pension will reflect the Rs 1,500 monthly increase, raising the basic pension from Rs 10,000 to Rs 11,500. Pensioners will also receive arrears for the months of January through August in a single payout.
The federal cabinet had earlier approved a 15 percent increase in EOBI pensions, a measure aimed at providing financial relief to retired citizens dependent on this income.
The decision was part of broader economic deliberations led by Prime Minister Shehbaz Sharif, who emphasized that ministries’ performance will now be evaluated every two months against clearly defined benchmarks. Ministries that excel will be commended, while those failing to meet expectations will face corrective or disciplinary action.
