The Employees’ Old-Age Benefits Institution (EOBI), a national body providing lifetime pensions to private-sector employees after retirement, disability, or to their heirs in case of death, has entered into a new five-year agreement with Bank Alfalah Limited for banking services.

According to a statement issued from EOBI today, the agreement will remain effective from February 3, 2025 to February 2, 2030. Bank Alfalah has been offering banking services to EOBI since 2015.

Sharing the details, former EOBI official Israr Ayoobi, highlighted a key feature of the new agreement as saying the bank has decided to waive all service charges for senior citizen pensioners, recognizing their unique status and needs.

This initiative marks a significant step towards easing financial services for elderly citizens, ensuring convenience and respect in their dealings.