Title: Landmark Financial Support Initiative Reaches Hundreds of Thousands of Iranian Retirees
In a significant move to bolster the economic security of its retired community, the Iranian government has successfully delivered essential financial aid to a vast number of pensioners across the country. The initiative, managed by the Country’s Retirement Fund, underscores a continued commitment to social welfare.
A Multi-Faceted Support Package
The head of the Country’s Retirement Fund, Aladdin Orouji, detailed the comprehensive program, which was activated at the start of the current Iranian year. “Based on an agreement with our agent bank, a credit line of approximately 19 thousand billion Tomans was allocated to provide various financial facilities to retirees,” Orouji stated.
The support package is designed to address several key needs, offering distinct loans for essential expenses, children’s marriage costs, and support for student theses.
Widespread Distribution of Essential Loans
A major component of the initiative has been the distribution of essential loans. Orouji reported that out of nearly 800,000 applicants for a 50-million-Toman loan, 288,000 were deemed eligible.
“The distribution has been carried out in a phased and organized manner,” he explained. “So far, 201,000 individuals received their loans in seven phases during the month of Azar, with the remaining approximately 86,000 set to receive theirs in three additional phases by the year’s end.”
Expanded Support for Families and Education
Beyond immediate needs, the program also provides targeted support for family and educational milestones. For the marriage of retirees’ children, a 60-million-Toman loan with a low 5% fee has been made available. Orouji announced that over 31,000 of the 42,000 applicants have already received this loan in two phases.
He further highlighted that, through new coordination that exceeded the initial agreement with the bank, the remaining applicants will gradually receive their payments.
In the educational sector, the Fund has provided affordable loans to 14,070 students to support their thesis work, investing in the nation’s academic future.
Acknowledging Broader Economic Measures
The report also included details on specific sector support, noting that 33,500 retired steelworkers have received a total of 941 billion Tomans in interest-free loans, showcasing the program’s wide-reaching scope.
A Substantial Collective Impact
In his concluding remarks, Orouji summarized the initiative’s significant reach: “Through coordination with agent banks, more than 267,000 retirees have benefited from the Fund’s introduced facilities, totaling 12.5 thousand billion Tomans.”
While acknowledging the ongoing economic challenges, the official emphasized the program’s immediate value, stating, “Although these amounts are limited, they can resolve a part of the retirees’ needs in the short term.” This large-scale distribution marks a proactive step in the nation’s social support framework.