ISLAMABAD: Employees Old-Age Benefits Institution (EOBI) has disbursed an amount of Rs 16,706 million (over Rs 16.7 billion) among 378,615 beneficiaries during the period from July 2015-March 2016 under its four schemes.
According to the official source, an amount of Rs 10,400 million has been disbursed among 231,638 beneficiaries under Old-Age Pension Scheme of EOBI. While an amount of Rs 6,011 million has been disbursed among 139,256 beneficiaries under the EOBI’ scheme of Survivors’ Pension, the source said.
An amount of Rs 230m has been disbursed among 5,364 beneficiaries in shape of Invalidity Pension and Rs 65m under Old-Age Grant among 2,357 beneficiaries. EOBI has targeted to benefit 29,645 registered workers up to June 2016 for which an additional amount of Rs 7,540m was allocated for Old-Age Pension, Survivors Pension, Invalidity Pension and Old-Age Grants.
Employees Old-Age Benefits Institution Act 1976 was enforced with effect from April 1, 1976, to achieve the objective of Article 38 © of the Constitution, by providing compulsory social insurance.
