EOBI Pension Calculator
Estimate your EOBI old-age pension from your insurable service and average wage
Frequently Asked Questions
The Employees' Old-Age Benefits Institution (EOBI) pays a monthly pension to formally-employed workers who've contributed for enough insurable years and reached retirement age — a modest, formula-based benefit distinct from any private pension or provident fund an employer might separately offer.
How the EOBI pension formula works
Your pension is calculated from your average monthly wage over your insurable employment and your total insurable years, divided by a fixed pension divisor set by EOBI — but the result is subject to a minimum pension floor, meaning even a low formula result is topped up to the guaranteed minimum if you meet the minimum qualifying years. You need a minimum number of insurable years of contribution to qualify at all, and the retirement age differs between men and women under current rules.
A worked example
A worker who contributed for exactly the minimum qualifying insurable years at a modest average wage will typically receive close to the minimum guaranteed pension, since the formula-based amount at low wage levels often falls below that floor — while someone with many more insurable years at a higher average wage sees the formula produce a genuinely higher pension above the minimum.
How this connects to your other retirement planning
EOBI's 1% employee / 5% employer contribution is a small, mandatory, government-run scheme — it is not the same as any employer provident fund, which is a separate, employer-specific retirement savings arrangement with its own (often much larger) contribution rates. Don't mistake your EOBI contribution line on a payslip (see the Salary Calculator) for your total retirement savings — for most formally employed people, EOBI provides a safety-net minimum, not a comfortable standalone retirement income, and should be planned around rather than relied on alone.
Common mistakes
Workers sometimes assume their EOBI pension will scale proportionally with their actual final salary, when in reality it's based on the contribution base (tied to minimum wage figures, not your real salary) and average wage over your insurable employment specifically — years worked informally, or for an employer who didn't properly register and contribute on your behalf, don't count toward your insurable years even if you were genuinely employed during that time.