The Employees Old Age Benefits Institution (EOBI) has unveiled a significant increase in the minimum pension, bringing much-needed financial relief to pensioners nationwide. This decision reflects the organization’s commitment to enhancing the welfare of retired workers, ensuring they receive better support in the face of rising living costs.
The increase, effective from January 1, 2025, will see the minimum pension rise from Rs.10,000 to Rs.11,500. Pensions above Rs.10,000 will also see an increment of 15%.
The meeting reviewed EOBI’s performance for the fiscal year 2024-25, where it was revealed that the institution earned an income of Rs.116 billion, marking a 40% increase in its revenue compared to the previous year.
The formal announcement of the pension increase is expected to coincide with Labor Day on May 1, 2025.
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