EOBI paid Rs.33 billion to pensioners, collection amounted to Rs.21 billion.

HYDERABAD -- Employees Old Age Benefit Institute (EOBI) is making all out efforts to bridge the increasing gap between amount of collections from industrial and business entities and disbursement of pension among retired workers.

Chairman EOBI Azhar Hameed, while addressing the reception hosted by the Executive Club Trade and Industry Nooriabad and later talking to media persons on Friday said the institute had received Rs.21 billion from industrial and trade organizations as contribution while Rs.33 billion were paid in respect of the pension amount during current year.

The pension amount of all pension holders had been increased from January 2020, he informed, adding the amount of pension to be disbursed would reach to Rs. 40 billion up to June 2020.

He pointed out that after 18th Amendment many companies had stopped their contribution while others were pooling their share at old rates therefore the gap between collection and disbursement of pension amount had drastically widened.

"The quantum of EOBI recovery from 42 percent employees of the industrial zones is thin which is Rs. 380/- to Rs. 780/- per employee while each pension holder is getting Rs. 8500/- in respect of pension amount", he stated.

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