The Employees’ Old-Age Benefits Institution (EOBI) has reported a sharp rise in its investment portfolio, which now stands at Rs643.59 billion, while annual income for the ongoing fiscal year (FY25) has climbed to Rs80.16 billion. The update was shared during a meeting of the National Assembly Standing Committee on Overseas Pakistanis and Human Resource Development on Thursday.
Pension Fund Doubles Returns in Five Years
Briefing lawmakers, Acting EOBI Chairman Dr. Jawaid Shaikh said the institution’s income has more than doubled since FY20, when it generated Rs38.41 billion. The bulk of its assets—48%—is placed in government securities, with 25% invested in equities, another 25% in real estate, and 2% in corporate fixed deposits.
This strategy has allowed the country’s main pension fund for private-sector workers to weather economic turbulence and improve returns, but officials admitted that other structural challenges remain.
Staffing Shortages and Limited Outreach Raise Concerns
Shaikh acknowledged that EOBI is operating with less than half of its approved staff strength. Recruitment for 200 officers is underway, but lawmakers criticized the institution’s limited coverage, particularly for vulnerable groups like fishermen and agricultural laborers, who often fall outside formal safety nets.
Committee Chairman Agha Rafiullah pushed back on claims that 99% of outstanding pension cases had been resolved this year, saying that roughly 600 families are still awaiting payments.
Legal Complications After Devolution
The EOBI head also flagged post-18th Amendment legal and administrative hurdles, explaining that labor is now a provincial subject, making it difficult to enforce uniform minimum-wage contributions across the country. The lack of consistency between provinces has slowed expansion efforts and contributed to gaps in social protection.
While the institution’s financial growth signals improved fund management, Thursday’s session highlighted that stronger enforcement, broader coverage, and better staffing will be crucial if EOBI hopes to effectively serve Pakistan’s aging workforce.
