Employee
Old Age Benefits Institution (EOBI)
Bank Alfalah has recently joined hands with Employee
Old Age Benefits Institution (EOBI) for the administration and organization of
the contribution collection and pension disbursement process in Pakistan. The
process has been designed to cater to a wide base of 390,000+ pensioners, and
98,000 contributing employers. Bank Alfalah will manage an average monthly
pension disbursement of Rs.5,250 for each EOBI pensioner, along with a total
monthly contribution collection of Rs 1.5 billion from employers.
Bank Alfalah has worked on revolutionizing the pension
disbursement process by making it more sophisticated and agile as opposed to
the manual processes which were previously being followed.
The pension
disbursement process has been designed to become completely digital through the
use of branchless banking mobile wallets which will eradicate the use of
physical dealing of cash at the time of pension disbursements. Instead of
pension collection at branches only, Bank Alfalah has now widened the access
points for pensioners. EOBI pensioners will now be able to withdraw and utilize
their pensions through the 10,000+ ATM network, and 40,000+ POS machine network
in the country.
Bank Alfalah began the registration of EOBI pensioners
at its branches from 23rd May 2016.
How can
EOBI pensioners open their EOBI pension account at Bank Alfalah?
·
An EOBI pensioner will visit a BAFL branch and show
his/her CNIC and Passbook for verification.
·
After verification, the pensioner will be asked to
perform a bio-metric verification for pensioner profiling.
·
The pensioner will be asked to provide some basic KYC
details in order to complete the account opening form.
·
The form will be printed and signed by the pensioner
and branch officer.
·
The pensioner’s Wallet account will now be opened and
the EOBI pension card pack will be handed over to the pensioner.
How can
EOBI pensioners activate their EOBI pension card?
To activate the EOBI pension card, you can simply call
on Alfalah Bank’s 24/7 customer support helpline at 021-111-225-229.
How
will EOBI pension disbursement take place?
·
On the 1st of every month, the pensioner’s wallet
account will be credited with the EOBI pension amount. Upon successful
disbursement, an SMS notification will be sent to all EOBI wallet holders.
·
An EOBI Pensioner will then be able to withdraw the
funds from their account at any ATM in Pakistan, or use it at any POS machine
for retail purchases in Pakistan.
How
will EOBI contribution collection take place?
·
Manual contribution collection
·
The depositor will visit a BAFL branch to deposit the
contribution in EOBI Pension Fund
·
The depositor will be asked to fill the PR-03 deposit
slip placed at the branch slip counter and then approach the branch teller.
·
The branch teller will complete the transaction by
filling out all the details on the deposit slip onto the system.
Contribution
collection with pre-generated slip
·
If a depositor wishes to deposit funds into the EOBI
Pension Fund, they can generate the PR-03 deposit slip from the EOBI website.
·
The depositor will then visit a BAFL branch along with
the pre-generated slip and then approach the branch teller when called to the
ticket counter.
·
The branch teller will complete the transaction by
filling out all the details on the deposit slip, onto the system.
For details about other Branchless Banking Products
& Services at Alfalah Bank call the Phone Banking Service at
021-111-225-229.
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