ISLAMABAD : Employees Old-Age Benefits Institution (EOBI) disbursed an amount of Rs 16,706 million among 378,615 beneficiaries during the period from July 2015-March 2016 under its four schemes.

According to an official of EOBI, an amount of Rs10,400 million has been disbursed among 231,638 beneficiaries under Old-Age Pension. An amount of Rs 6,011 million has been disbursed among 139,256 beneficiaries in shape of Survivors’ pension while Rs 230 million has been disbursed among 5,364 beneficiaries in shape of Invalidity pension.

An amount of 65 million was distributed under Old-age grant among 2,357 beneficiaries. EOBI has targeted to benefit 29,645 workers from the EOBI up to June 2016; an additional amount of Rs. 7,540 million is allocated for Old-Age Pension, Survivors Pension, Invalidity Pension and Old-Age Grants.

Employees Old-Age Benefits Institution Act 1976 was enforced with effect from April 01, 1976, to achieve the objective of Article 38 (C) of the Constitution, by providing compulsory social insurance.