(1) This Act may be called the Employees' Old-Age Benefits (Amendment) Act, 2003. (2) It extends to the whole of Pakistan. (3) It shall come into force at once.
Who is entitled to EOBI?
Old-Age Pension superannuation at the age of 60 for men and 55 for women and 55 years for those miners who are in mining occupation for at least 10 years immediately preceding retirement. Old Age pension can not be allowed for more than 6 months retroactively.
What is the purpose of EOBI?
The Employees' Old-Age Benefits Institution (EOBI) (Urdu: ادارہِ مراعاتِ معمّر ملازمین) is the pension, old age benefits and social insurance institution of the Government of Pakistan. It operates under the control of Ministry of Overseas Pakistanis and Human Resource Development.