According to President Azhar Hameed EOBI of Employees old age benefits, the retirement plan has introduced the latest digital payment mechanism that allows employers registered on the platform to submit their monthly contributions online.
The new initiative aims to promote revenue generation by promoting digital methods among registered employers to submit their monthly contributions.
According to the chairman, employers previously paid their contributions manually by downloading the PR 03 forms.
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The new interbank fund transfer system would help manage institution corruption and not only ensure transparency in cases. The manual transfer of income has not been followed transparently, so EOBI is looking for new funds.
The chairman also said the organization will make great efforts to digitize the system over the next three months. EOBI pays an amount of Rs. 2.4 billion among retirees at the end of this month. The pension amount covers payment arrears along with the increase by the federal government.
Azhar Hameed quoted, “Every retired employee registered with EOBI receives an increased pension of Rs. 8500 with Rs. 6,000 payment arrears in three months. In total, Rs.14,500 will be transferred to each retiree's account before Eid-ul-Azha. "
Recently, several retired FDE employees complained that they had not received their pension contributions within 3 months. It should be noted that the Supreme Court has already instructed all public services that serve the public not to cause undue delay or impediment to the final payment of the pension amounts.
Violation of the instruction is considered criminal negligence. The head of the interest department is also responsible for the court's contempt.
FDE Director General Syed Umair Javed, while discussing the issue, issuing pensions after retirement requires complex formalities, noting that retirees are not currently completing the administration while they are still employed. Sometimes the delay also occurs at the relevant institution.
Syed Umar also said, "We are also introducing the Retirement Information System, which will allow retirees to monitor and track their case through their CNICs and bring transparency to the mechanism of service delivery."
