NBP to give pension to EOBI beneficiaries
National Bank of Pakistan has been given project to disburse pension to 53,000 beneficiaries temporarily for the period of three months as the contract of Tameer Microfinance Bank has been expired. Official sources said the contract of Tameer Microfinance Bank has been ended whereas BankAlfalah was given the same contract for the future however due to official procedure, the transition between two private banks were not done. EOBI distributes pensions to more than 0.5 million beneficiaries mainly through National Bank of Pakistan (NBP) and then through a branchless banking services of Tameer Microfinance Bank.
The distribution process was smooth for both channels particularly the branchless banking service which is available to beneficiaries to far-flung areas, however, the management has opted out Bank Alfalah for the same service for future but few official procedures has not culminated the whole transfer process. According to the source, the new bank was provided contract but it was not handed over the service charge for more than past six months because of officials who failed to complete the process. NBP was given contract of three month to disburse pensions of this group for next three months though the new bank will get its charge properly for the same contract afterwards for future.
Pensioners were sent SMS to reach NBP nearest branch with their pension book and CNIC. Official sources said EOBI has handed over contract to NBP for 53,000 because it has enabled its system for distribution of large base of pension system whereas the data transfer of the employees took a little time for the process.