Iranian Pension Fund Launches New 3 Million Toman Welfare Credit for Retirees
In a significant move to enhance the welfare and purchasing power of retirees, Iran’s Civil Servants Pension Fund has announced the rollout of a new credit program. This initiative specifically targets retired educators and state employees, offering them access to interest-free credit for purchases at major retail chains.
Key Details of the Welfare Program
The program, managed by the fund’s Welfare Services Department, provides substantial financial support with a streamlined repayment structure.
- Each eligible retiree can receive up to 30 million Rials (3 million Toman) in interest-free purchasing credit.
- The credited amount will be deducted in three equal installments from the retiree’s monthly pension.
- Purchases are to be made in-person at partner stores. If a purchase exceeds the credit limit, the difference can be paid in cash.
Partnership with Digital Platform “Tara”
Emphasizing digital accessibility, the program is being implemented in collaboration with the “Tara” platform, offering a modern and convenient user experience.
- A separate 10 million Toman credit with a two-month repayment window is available for both in-store and online purchases at partnered retailers, including Daily Market, Haft, and Ofogh Kourosh.
- Registration and use of services are designed to be fully remote and straightforward.
- Retirees can install the “Tara” application to view their credit in a digital wallet and make purchases seamlessly.
Strategic Benefits and National Significance
This initiative is presented as a cornerstone of the nation’s broader strategy to develop digital welfare services and directly support the retiree community. Its advantages are multifold:
- Ease of Access: The program requires no guarantor, collateral, or upfront deposit, simplifying access to credit.
- Economic Support: It is designed to alleviate economic pressure and help retirees maintain their liquidity for essential goods, from foodstuffs to small household appliances.
- Digital Transformation: The scheme symbolizes a modern shift towards digitizing welfare services, providing a contemporary credit purchasing experience.
This new credit program complements previous agreements between the Pension Fund and retail chains. It is framed as a tangible example of the ongoing digital transformation within Iran’s welfare system, directly aiming to improve the quality of life for those who have served the nation.
