EOBI disburses 2015.97 million pensions in Oct

KARACHI: Employees’ Old-Age Benefits Institution (EOBI) has disbursed an amount of Rs 2,015.975 million amongst 2,669 pensioners during the month of October 2015 and collected Rs 1,091.170 million as EOB contribution from registered employers and employees during the same month.

EOBI has also registered 312 new employers and 22,630 employees and granted 2,669 new pension claims which included 1,548 old-age, 61 invalidity, 808 survivors and 252 old-age grant cases. Thus, it has registered 102,499 employers and 6,592,409 insured persons so far since the inception of the EOB Scheme 1976 and total number of pensioners have reached 555,567.

Meanwhile, EOBI recently entered into an agreement with Bank Alfalah Ltd. which would allow EOBI to utilize modern technology-based banking for pension payments and contribution collection.

Salient features of pension disbursement system are: opening of bank accounts of pensioners, payment through ATM cards, and biometric verification of pensioners after every six months. BAFL and EOBI plan to provide the state-of-the-art facilities in respect of Contribution deposits by registered employers. EOBI and BAFL intend to start pensioners’ registration in BALF branches throughout Pakistan by January 2016.

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