Title: Iran’s Armed Forces Retirees Receive Major Boost in Credit Purchasing Power
In a significant development aimed at enhancing the welfare of its retirees, Iran’s Armed Forces Social Security Organization has announced a substantial increase in the credit limit for the Hekmat Card, a dedicated financial instrument for military pensioners.
A Fivefold Increase in Credit
Effective from September 10, 2024, the monthly credit limit for the Hekmat Card has been raised from 1.3 million tomans to 6 million tomans. This nearly fivefold enhancement, coordinated by the Ministry of Defense, SATA, and the Etka Organization, marks a major step in supporting the purchasing power of those who have dedicated their lives to national service.
The increase is not merely a financial adjustment but is widely viewed as a reflection of the government’s ongoing commitment to improving the livelihood of retirees and pensioners from the armed forces.
Enhanced Purchasing Capabilities
The revised credit structure offers retirees substantially greater financial flexibility:
- Monthly Credit: Increased from 1,300,000 to 6,000,000 Tomans.
- Installment Purchase Ceiling (24 months): Increased from 31.2 million to 144 million Tomans.
This expanded credit allows retirees to access a wider range of durable goods and services, including household appliances, without the need for a guarantor or a down payment.
Understanding the Hekmat Card
The Hekmat Card is a special credit facility provided through partner banks, designed exclusively for active and retired personnel of the armed forces. Its benefits include:
- Installment purchases without a down payment or guarantor.
- Usability at Etka stores and a wide network of affiliated retailers.
- Regular credit recharge managed by SATA and the Etka Organization.
- Options for both online and in-person transactions.
Retirees can check their balance via SMS, a dedicated phone service, or through the official Hekmat Card application.
Broader Economic Impact
Economic analysts suggest this initiative will have a positive multi-faceted impact:
- It directly improves the quality of life for retirees by mitigating the effects of inflation on their fixed incomes.
- It is expected to stimulate economic activity within the affiliated retail and distribution networks.
- Repayment is structured to be manageable, with installments deducted directly from monthly pensions.
Future Expectations
While this credit expansion is a positive development, it is part of a broader, continuous effort to address the needs of retirees. The government remains focused on comprehensive support for this valued segment of society, with ongoing programs and reviews dedicated to their welfare.
This initiative represents a important advancement in the economic security of Iran’s armed forces retirees, underscoring a sustained priority placed on their well-being.
