Employees Old-Age Benefits Institution one step nearer to the digitization

According to Chairman Azhar Hameed EOBI or The Employees, Old Age Benefits Institution has rolled out the latest digital payment mechanism which would enable the employers that are registered to the platform to submit their monthly contributions online.

The new initiative is aimed to boost the generation of revenue via the promotion of digital methods among its registered employers for submission of their monthly contributions.

According to the Chairman so far the employers paid their contributions manually by downloading the PR 03 forms. The new system of the Inter-bank fund’s transfer would help in controlling the corruption in the institution not just that it would also ensure transparency in the affairs. The manual submission of revenue was not tracked transparently that is the reason why EOBI is looking for new means.

The Chairman also said that in the coming three months, the organization will put a lot of efforts to digitize the system. EOBI will disburse an amount of Rs. 2.4 billion among the pensioners by the end of this month. The pension amount will cover the arrears along with the increment by the federal government.

Azhar Hameed quoted: “Each retired employee registered with the EOBI will get an increased Pension of Rs. 8,500 with Rs. 6,000 arrears of three months. In total, Rs.14, 500 will be transferred to each pensioner ‘s account before Eid-ul-Azha.”

Recently several FDE retired employees have been complaining that they had not received payment of their pension dues for 3 months. It is pertinent to quote here that the Supreme Court had already directed all the government departments that serve the general public that they should not cause unnecessary delay or hurdle in finalizing the payment of the pension amounts. Violation of the direction would notify as the criminal negligence. The head of the department-of-interest will also be answerable for the contempt of court.

The director-general of FDE Syed Umair Javed while discussing the matter said that the issuance of pension after the retirement requires complex paperwork and mentioned that the pensioners at the time also do not complete the paperwork while still being in service. Sometimes the delay occurs from the respective institution too.

Syed Umar also said: “We are also launching pensioner’s Information System which would enable the pensioner to track and race their case through their CNICs and bring transparency in the service delivery mechanism.”