Federal Minister for Overseas Pakistanis Chaudhry Salik Hussain has announced that around 500,000 pensioners of the Employees’ Old-Age Benefits Institution (EOBI) will receive their enhanced pensions along with arrears from Sept 1.

Under this disbursement, the EOBI will release nearly Rs10 billion in monthly pension payments.

The federal cabinet has already approved the pension increase, raising the minimum pension from Rs10,000 to Rs11,500 per month. In addition, formula-based pensions have been increased by 15 per cent, effective from January 1.