Industry

EOBI registers 307,296 new employees in FY22

Karachi, August 15, 2022: The Employees Old-Age Benefits Institution (EOBI) has registered 307,296 new employees during Financial Year 2022.

Currently, EOBI has registered 450,375 Old-age pensioners, 234,881 Survivors’ pensioners and 11,837 Invalidity pensioners.

EOBI have 137,288 total registered employers out of which 89,840 are active employers. Overall 9,429,281 employees are registered with EOBI. EOBI is the only national pension scheme for employees working in industrial and commercial establishments with at least ten employees.

Employees Old Age Benefits Institution EOBI

Main Features of the EOBI Schemes:

  • Old-age pension on attaining the age of 60 years in case of male workers and 55 years in case of female and mine workers.
  • Invalidity pension on sustaining invalidity affecting insured person’s earning more than one third of normal.

Survivors’ pension to the following in case of death of insured person/pensioner:

Surviving spouse 100% pension till life, or Surviving male children till 18 years of age, or Surviving female children till 18 years of age or their marriage, whichever is earlier, or Surviving parents for 5 years, if any insured person/pensioner not survived by spouse or children.

Workers Welfare Fund (WWF)

The WWF was established under the Workers Welfare Fund Ordinance, 1971 to take initiatives for the industrial workers by providing service in health, education and low-cost housing sector which includes provision of Marriage Grants, Death Grants, Talent Scholarships, establishment & maintenance of labour Colonies and establishment & operations of Workers Welfare Schools at various priority locations throughout the country.

The main objectives of WWF are as under:

  • Financing of projects connected with the establishment of housing estates or construction of houses for the industrial workers.
  • Other measures for the welfare of workers.

During July-March, FY2022, expenditures amounting to Rs 1.43 billion were incurred on 15,004 scholarship cases, while Rs 244.07 million disbursed as marriage grants @ Rs 200,000 per worker benefitting 1819 workers’ families.

The WWF has also disbursed Rs 420.4 million as death grant @Rs 600,000 per worker– covering 804 cases of mishaps all over the country.

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