Employees Old-Age Benefits Institutions has issued Notification on 25-02-2019 in connection with Clarification Increase Rates EOB Pension. Detail is as under:
2. Ministry of Overseas Pakistanis and Human Recourse Development, Government of Pakistan vide Notification # 7(3)2018-EOBI dated 20th January 2019, in exercise of the powers conferred by sub-section (a) of section 2 of EOB Act 1976 has been pleased to allow 20% increase in the rate of pension for pensioners and to round of the minimum amount of pension of Rs. 6,500/- per month as other benefit with effect from 1st September 2018.
3. In line with above and in order to bring clarity for proper implementation of the said notification following guidelines / steps are required to be adhered to in letter and spirit.
i. Pensioners drawing Employees Old-Age Benefits Institutions has issued Notification on 25-02-2019 in connection with Clarification Increase Rates EOB Pension. Detail is as under: i.e. @ Rs. 5,250/- shall be given Rs. 6,500/- as minimum pension.
ii. Pensioners getting reduced or formula pensioners shall be given 20% increase in their existing pension.
iii. Pensioners getting formula pension ranging from Rs. 5,260/- to 5,417/- shall be given 20% increase with rounded off minimum amount of pension to Rs. 6,500/-
iv. Increase in formula and reduced pension shall be allowed to those whose FIR is registered between 01.09.2018 to 30.06.2019. However the minimum pension of Rs. 6,500/- will be continued to the next financial years.
v. The claimants of pensioners whose First Intimation Report (FIR) was filed between 1st September 2018 to 30th June 2019 shall be awarded arrears with 20% increase in case of formula pension / reduced pension and FIRs registered on and after 1st July 2019 shall not have this benefit.
Special thanks to Mr. Zahid Khan for sending the copy of the Notification of Clarification Increase Rates EOB Pension.