Iran Launches Major Financial Support Scheme for Oil Industry Retirees
In a significant move to bolster the economic welfare of its retired citizens, a new substantial loan program has been officially launched for retirees of the oil industry. Dubbed the “Welfare Loan Plan,” this initiative offers financial support of up to 300 million tomans, featuring a low 4% profit rate and a long-term repayment schedule.
A Plan for Enhanced Livelihoods
The primary objective of this scheme is to elevate the living standards and enhance the economic capacity of retirees and their surviving spouses. Developed through a collaboration between the Oil Industry Retirement Fund and Tejarat Bank, the plan is being rolled out with a distinct priority: retirees receiving lower monthly pensions are at the front of the line for registration. This tiered approach ensures that the most vulnerable segments of the retiree community receive support first.
Streamlined Online Registration
A key feature of this initiative is its fully digital and accessible process. All registration steps are conducted online via the “SAMA” system, eliminating the need for any in-person visits and simplifying the application procedure for retirees across the country.
The registration process involves:
- Accessing the loan section within the SAMA system.
- Selecting the “Tejarat Bank Loan” option.
- Reading and confirming the relevant agreement.
- Submitting a new request.
- Once the application is processed, a bank card is issued and mailed directly to the applicant’s registered address.
Substantial Financial Relief
The loan provides a considerable financial cushion, with amounts ranging from 200 to 300 million tomans. The attached 4% profit rate is notably favorable, designed to make repayment manageable and to genuinely alleviate financial pressures on retirees. Experts highlight that such a initiative can effectively increase purchasing power, help cover essential needs, and contribute to reducing economic inequality for this demographic over the long term.
This comprehensive support plan underscores a committed effort to the social welfare of retirees who have served the nation, providing them with a streamlined and impactful mechanism to improve their financial stability and quality of life.