Payroll & HR Insights From a Global Payroll Outsourcing Provider

Notification of Pension Rate Increase of 20% for EOBI Pensioners

The Government of Pakistan, Ministry of Overseas Pakistanis and Human Resources Development   has issued a Notification (No.7 (3)2018-EOBI dated 30-01-2019) regarding the notification of an increased rate of pension to 20% for EOBI Pensioners.

(No.7 (3)2018-EOBI) states “In exercise of the powers conferred by sub-section (a) of section 2 of employees’ Old-Age Benefits Act, 1976, the Federal Government is pleased to allow a 20% increase in the rate of pension to Rs. 6,500/- per month, with effect from 1st September 2018.

The federal government has approved a considerable increase in the old age benefits for senior citizens. Following the government’s approval, the Employees Old-Age Benefits Institution (EOBI) has announced a 20 percent rise in pensions for elderly people.

After the increment, the minimum dispensation would now be Rs. 6,500 per month, previously this was only Rs. 5,250. Moreover, the government has also ended the requirement of National Identity Cards for Overseas Pakistanis (NICOP) to receive their pensions.

Both decisions were taken in a federal cabinet meeting chaired by the Prime Minister of Pakistan on Tuesday.

Please contact your Mercans’ services delivery team for any additional information regarding the implications of the above changes.

 

 

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If you are tired of dealing with the payroll industry dinosaurs and their outdated and inflexible technology, or with aggregators who simply pass on your data to their subcontractors and divert your calls to an off-shore call center and never seem to have the local knowledge, Mercans is your ideal partner. Mercans accepts your payroll data, configures calculation rules and generates reports based on your needs and requirements. You will never again have to go through lengthy implementation processes only to find out that you need to change your own side to cope with the limitations of the payroll provider. Our software platform has preconfigured API integration capability with all the major global HRMS platforms, including SuccessFactors, Workday, Oracle HCM, MS Dynamics, and so on.

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Our in-country payroll and PEO specialists support you locally when and where you need them. We provide you with practical guidance regarding payroll compliance issues as well as immigration and HR. Never again will you be left hanging, waiting for an answer from a call center. We take care of your business when and where you need it. Our single contract and software platform approach guarantees that you have the full overview of all of your local payrolls and related costs. You can view and analyze the payroll data in real time and without building expensive reports or data interfaces. All of Mercans’ systems and processes are GDPR compliant and ISO 9001, 20000 and 27001 certified.

Mercans is also a member of Global Payroll Association https://globalpayrollassociation.com/ and Global Payroll Management Institute https://www.gpminstitute.com/.