Social Security Pensions Disbursed Amid Economic Challenges, Official Outlines Financial Strategy
In a significant move, the Social Security Organization has initiated the transfer of pension payments to all its retirees. The disbursement, which follows an alphabetical order through agent banks, will continue over a 72-hour period.
Concurrently, the organization has announced a schedule for settling arrears. Payments for minimum-wage pensioners and beneficiaries are set to commence later.
A Detailed Financial Overview
The announcement was made during a live online meeting featuring Mostafa Salari, the Managing Director of the Social Security Organization, and representatives from provincial pensioner associations. Mr. Salari provided a comprehensive and transparent breakdown of the organization’s current financial landscape and its strategy for meeting its obligations.
Salari detailed the organization’s substantial financial commitments for the upcoming year, noting that a significant portion of its revenue is sustainably generated from insurance premiums. He explained that the remainder must be secured from other sources, including returns from its investment arm (SHASTA) and government support, highlighting a collaborative effort to ensure the fund’s stability.
Navigating Recent Economic Pressures
The official addressed recent challenges head-on, citing a notable decrease in revenue collection the previous month. He attributed this partly to broader economic conditions, which caused delays in premium payments from some economic units.
Despite these pressures, Salari emphasized the organization’s unwavering commitment to its pensioners. “We made immense efforts to ensure pension payments were not delayed,” he stated, revealing that this required taking on significant debt within the banking system to bridge the temporary gap.
Commitment to Pensioner Welfare
A key point of the discussion was the organization’s decision to proceed with pension adjustments, a measure that increased its annual costs considerably. Salari framed this as a decision made out of respect for pensioners’ representatives, undertaken despite a pre-existing budget shortfall. This action demonstrates the organization’s priority on beneficiary welfare.
Looking forward, Salari expressed optimism regarding government cooperation. He noted positive developments in settling longstanding governmental debts to the organization, which will provide a crucial influx of capital. This is expected to alleviate financial strain and allow for the settlement of arrears to healthcare centers and for supplementary insurance, further stabilizing the organization’s operations.
Timeline for Arrears and Future Payments
Providing a clear timeline for beneficiaries, Salari confirmed that the payment of overdue pensions is a top priority. The settlement of arrears for minimum-wage pensioners will be addressed first, followed by the remaining retirees.
Furthermore, he announced that outstanding claims for supplementary insurance will be processed. Settling these debts to medical centers is also a key objective, as it will free up resources for other essential obligations. Salari concluded by reaffirming that providing free healthcare and timely pension payments remains the organization’s fundamental and primary mission.
