An online employee registration system is to be launched in January 2020 by the Employees Old-Age Benefits Institution (EOBI).
Chairman EOBI, Azhar Hameed during a meeting at the Islamabad Chamber of Commerce said that this online registration system will empower the registered employees.
EOBI reforms will not just increase transparency in the department but will also transform it into an organization that is service-oriented.
Azhar said that the EOBI authorities will not pressurize any of the business entities. Organizations are asked to inform him if they feel they are being pressurized by EOBI.
Globally the central governments manage the pension funds but in Pakistan, EOBI is managed by provinces after the 18th amendment. This has led to quite a problem. As a lot of organizations have registered their employees with EOBI but the contributions made by these organizations are insufficient. Also, the EOBI buildings are not enough which is another issue.
The investments made by the pension fund of the department have been termed safe by the Chairman EOBI. Furthermore, the department plans to increase the minimum pension of registered employees. In order to resolve the pension-related issues, a facilitation desk will be established.