EOBI disburses Rs 586.672 million as pension and grant

The Employees Old-Age Benefits Institution (EOBI) has disbursed a total amount of Rs 586.672 million as pension and grant during fiscal year 2006-07 as compared to Rs 480.057 million disbursed during the corresponding period of fiscal year 2006-07, showing an increase of Rs 106.614 million or 22.20 percent.
However, the total amount of pension and grant disbursed since inception in 1976 to August 2007, was over Rs 21.009 billion. Currently pension is being paid at Rs 1,500 per month since July 2007 as announced in the Federal Budget.
According to EOBI, a sum of Rs 431,545,142 was collected as Employees' Old-Age Benefits contribution during September 2007, which included arrears amounting to Rs 3,795,308.
Contribution amounting to Rs 346,770,579 was collected during the same month of the previous financial year 2006-07, thus showing an increase of Rs 84,774,563 (24.45 percent).
The total contribution collected during the current financial year 2007-08 (till September 2007) stood at Rs 1,103,123,632 as compared to Rs 875,878,420 collected during the corresponding period of the previous financial year 2006-07, which has showed an upward trend by Rs 227,245,212 (26 percent) thus total contribution collected since inception of the scheme in 1976 is Rs 33,986,597,065. During September last 21,539 employers paid their contribution, which is 61 percent of the total active employers.
As for registration of employers, a total of 186 new employers were registered during the month as compared to 133 employers registered during the corresponding month of the previous financial year 2006-07.
As such, the total number of registered employers as on 30-09-2007 after exclusion of 5,405 exempted, de-registered ones, stood at 56,632. A total of 46,358 employers were given main-codes and the remaining 10,274 employers were given sub-codes.
During September, 10,759 registration application forms were received and as such same number of 10,759 employees were thus registered. Since inception of the scheme 2,765,548 PE-01 forms were received against which 2,753,807 employees have been registered (PI-03 cards, certificates issued). There were 1,742,796 active insured persons as on 30-09-2007.
As for disposal of pension claims, 1989 pension, grant claim forms were received. 29 claims were rejected after due processing and scrutiny as against 1,827 claims received and 44 rejected during the same month of the previous financial year ie 2006-07.
2,069 pension cards, books and old-age grants issued during the month of September 2007, including 1,135 old age, 38 invalidity, 718 survivors pension cards, books and 178 old-age grants.
The total number of pension cards, books and old-age grants issued from inception of the scheme till the month under report stood at 317,225, which included 209,649 old-age, 7,246 invalidity and 89,429 survivors' pension cards, books and 10,901 old-age grants. At the end of September 2007, a total of 948 pension, grant claims were under process, out of which, 641 claims were under process for less than 30 days.