EoBI Introduced Online System for Pension Contributions by Employers
|Reform Description||EoBI Introduced Online System for Pension Contributions by Employers
Before: Businesses were facing huge difficulty as payments of contributions were being made manually, consuming time, and causing a lot of hassle. Besides, the number of payments for pension contributions in EoDB report 2020 was considered 12 being manual.
After: It is now very easy to pay contributions without any hassle and the number of payments for pension contributions in EoDB report 2021 would also be considered as 01 which will lead to improved EoDB ranking.
|Sector||Employers/Businesses across all Sectors|
|Beneficiaries||Employers who pay pension contributions to EoBI.|
|Jurisdiction/Location||All over Pakistan|
|Date of Implementation||13-12-2018|
|Details||Difficulty||● Employers were paying pension contributions to EoBI manually, resulting in more time and hassle.|
|Analysis||● The reform was part of EoDB reform Strategy (2019-2021), the strategy was formulated by BoI in consultation with World Bank Group (WBG) and relevant agencies. The reform will help in improving ranking in the coming EoDB Report 2021.|
|Solution||● An online system for payment of pension contributions has been introduced by EoBI which will facilitate the payment of contributions by employers.|
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