Iranian Government Approves Significant Pension Increase and Support Measures for Retirees
In a move aimed at bolstering the economic welfare of its senior citizens, the Iranian government has announced a substantial increase in pension payments alongside new financial support initiatives.
Substantial Pension Hike Announced
Ahmad Meydari, the Minister of Cooperation, Labour, and Social Welfare, has detailed this year’s pension adjustments. The announcement was made during an inauguration ceremony for 65 new Social Security Organization projects, attended by the First Vice President. Minister Meydari reported that the new measures include a 45% rise in the minimum wage for workers, a 30% increase for employees, and a maximum pension boost of up to 60% for retirees.
Minister Meydari emphasized that despite existing financial challenges, the Social Security Organization remains committed to its ongoing efforts to improve the livelihood and medical services for the nation’s retirees. The combination of a recalibration of the payment structure and the rise in the minimum wage has resulted in a significant 59-60% increase in pensions for a segment of the retiree population.
New Interest-Free Loan Program Introduced
In addition to the pension increase, a new program to provide monthly, interest-free micro-loans of 50 million tomans to retirees was also unveiled. While the minister acknowledged that the current scale of this initiative is modest relative to the total retiree population of 4.8 million, it was presented as a positive step forward given the constraints on financial resources.
The government’s comprehensive approach underscores its focus on implementing practical social welfare policies to support its citizens during their retirement years.
