EOBI Pension Formula – Check Your Pension Rate For EOBI 2023

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February 7, 2023

EOBI provides a minimum pension of Rs. 8500 per month to its pensioners. This pension rate may be higher depending upon the minimum wage at which the employer is paying EOBI contribution. Since the government has set the minimum wage at Rs. 25000, hence you can easily find the minimum EOBI pension. You have to put this minimum wage in the EOBI pension formula which is as following:

Pension Formula:

(Average Minimum Monthly Wages x No. of years of Insurable Employment)/50

eobi-pension-calculator Download

In the first step, multiply the minimum monthly wages with the number of insurable employment. For example, if a worker has worked for 20 years, then multiply 20 with 25000. We get the figure 500,000. Now in the next step, divide this figure with 50. Hence, 500,000/50 is equal to 10,000. Hence a worker whose contribution was paid at the minimum wage Rs. 25000 for 20 years will receive minimum EOBI pension of Rs. 10,000 according to EOBI Pension Formula.

But since most employers pay EOBI at old minimum wage rates, hence the EOBI formula pension is lower then EOBI minimum pension. If any employer is paying EOBI contribution at old minimum wage rate, its employees will not receive a higher EOBI pension as a result.

For the easiness of employees, we have provided this formula in excel sheet. You can easily change the years of insurable employment, and the minimum wage at which the employer is paying contribution. You will easily find the EOBI pension formula and claim the same if you want.

If you calculate the pension and your pension found to be less then the minimum pension set by Employees Old Age Benefits Institution, then your pension will be the minimum pension set by EOBI. But if your pension is higher according to formula, you will receive Formula pension.

eobi pension calculation

Saeed Anwar

8 responses

Muhammad Farrukh Saeed
February 7, 2023
How can I enrolled myself in EOBI ?
Reply
1. eobiadmin
  April 17, 2023
  Please visit nearest EOBI Office and receive PE 01 Form. Submit it in the Office after filling and providing the required documents.
  Reply
SYED KAFEEL AHMED
April 10, 2023
HOW TO CALCULATE AVERAGE MONTHLY WAGE FOR PENSION
Reply
1. eobiadmin
  April 17, 2023
  The process has been explained in the above article. Please read again.
  Reply
Syed Kaleem Akhtar Zaidi
July 13, 2023
Dear Sir,
I have completed my +31 years job and claimed my pension from EOBI w.e.f, 1/1/2023.
Today, I surprised to see the EOBI has calculated / granted me only Rs. 8500/- per month pension as minimum pension.
While as per above formulae my pension should be Rs 15500/- per month as per revised minimum wages.
Please guide me.
Regards,
Reply
1. eobiadmin
  July 20, 2023
  Dear Sir, please check the wage rate at which your contribution was paid to EOBI. You can request to re-verification of the records at any time by lodging a petition with Registrar, EOBI Adjudicating Authority. The addresses of the three main offices of the Authority are given below. You can lodge a petition with any of these three Adjudicating Authorities for re-verification of your records.
  Adjud-Authority-I
  EOBI Shopping Mall (Ex-Awami Markez), Shahra-e-Faisal Karachi
  021-99245245
  Adjud-Authority-II
  57/L, Gulberg-III Lahore
  042-99230520
  Adjud-Authority-III
  EOBI HOUSE Plot No. 32-34, Mauve Area G-10/4 Islamabad
  051-9108289
  Best Wishes.
  Reply
2. Syed Kaleem Akhtar Zaidi
  July 21, 2023
  Dear Sir,
  Thank you very much for your reply.
  My Firm and me had contributed the contribution amounts up to September 30, 2022 @ Rs. 780/- per month and then after from October 1, 2022 till December 2022 @ Rs. 1500/- as revised rate respectively as demanding by the EOBI.
  Now you may advise please and calculate my per month pension for the period of 31 years. I will apply my reconsideration case after your approval and confirmation.
  Regards,
  Reply
  1. eobiadmin
    July 21, 2023
    Dear Sir, the rate of contribution (based on the minimum wage) has been revised from time to time. Moreover, different employers have paid contribution at different rates. Therefore a brief review of your pension file and employer record would be necessary for the ascertainment of the correct formula pension for which you are entitled. I would suggest to launch a petition with EOBI’s adjudicating authority for a review of your pension.
    Reply