ISLAMABAD: Special Assistant to the Prime Minister (SAPM) on Overseas Pakistanis & Human Resource Development Jawad Sohrab Malik on Friday announced an increase in Employees’ Old-Age Benefits Institution (EOBI) pension amount by 17% from the previous Rs8,500 to Rs10,000, effective from July 2023.

The SAPM announced the development on X (previously known as Twitter). He said the substantial increase in pension benefits, aimed at enhancing the financial well-being of pensioners, has been eagerly awaited by hundreds of thousands of individuals who rely on their EOBI pensions for their livelihoods.

The adjustment reflects the government’s commitment to supporting its retired citizens and ensuring their financial security in their golden years.

The notification issued by the EOBI specifies that this increase will apply to pensions received on and after July 2023. Moreover, to alleviate any financial concerns arising from the delay in implementing this adjustment, the EOBI has taken the commendable step of disbursing the increased amount, along with arrears for the months of July and August 2023, starting from September 2023.

Malik said the announcement not only serves as a testament to the Government’s dedication to the welfare of its citizens but also provides much-needed relief to countless pensioners who have long anticipated this welcome change.