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ISLAMABAD, Mar 19 (APP):The Employees’ Old-Age Benefits Institution (EOBI) has shown remarkable performance in the first eight months of the current fiscal year, earning up to Rs 54 billion from investments with an impressive growth rate of 41%.
EOBI revealed the empirical data of the performance during a high-level meeting in Islamabad to review eight-month performance of EOBI in chair with the Federal Minister for Overseas Pakistanis and Human Resource Development Chaudhry Salik.
During the review meeting, it was highlighted that EOBI has collected Rs 50 billion in contributions from employers and employees over the past eight months, said a press release.
The officials further informed the Minister that EOBI was currently serving approximately 850,000 beneficiaries and had disbursed Rs 37.5 billion in pension payments during this period.
Moreover, EOBI recorded a net profit of Rs 65.7 billion in the first eight months of the current financial year after covering operational and management expenses and pension payouts.
The Federal Minister appreciated EOBI’s performance and emphasized the need for continued efforts to serve the public and workers efficiently.
He encouraged EOBI officials to sustain their commitment to improving the welfare of pensioners and ensuring financial stability for retired workers.
The meeting was attended by Dr Jawaid A Sheikh, Acting Chairman EOBI, and Muhammad Amin, Deputy Director General (Operations), who briefed the Minister on the institution’s progress.