Title: Social Security Organization Announces Timeline for Pension Payment Adjustments and Outlines Financial Strategy
In a comprehensive address, the CEO of Iran’s Social Security Organization, Mostafa Salari, provided a detailed update on the payment of long-awaited pension adjustments and the organization’s broader financial health, underscoring a commitment to retirees despite economic challenges.
Payment Schedule Confirmed for All Retirees
Mr. Salari confirmed that the outstanding adjustments for all retirees are scheduled to be paid by the end of the Iranian month of Shahrivar (late September). He stated that payments for non-minimum wage retirees would be deposited into their accounts by late Shahrivar or early Mehr.
Navigating Financial Challenges to Fulfill Obligations
The CEO outlined the organization’s significant financial commitments for the current year, which include projected expenses of at least 1,500 hamtas and the collection of 1,200 hamtas in insurance premiums. He detailed the complex financial landscape, noting a shortfall in premium collections in recent months due to broader economic conditions, which necessitated borrowing from Bank Refah to ensure the continuous payment of pensions.
Salari emphasized that despite these pressures, the organization prioritized a significant pension adjustment that was implemented from Aban 1403 (late 2023). This move increased the total payments to retirees by more than 1.5 times, raising the organization’s monthly pension expenses from approximately 62 hamtas to over 95 hamtas.
Unprecedented Government Support and Strategic Measures
A key pillar of the organization’s strategy is the strong and “unprecedented” support from the government. Salari highlighted the positive and decisive directives from the President and the government to address the organization’s financial requirements. This includes a major initiative to settle 185 hamtas of the organization’s claims against the government.
As part of this settlement, 70 hamtas will be received in the form of bonds. These funds are earmarked to resolve issues related to indirect treatment, contracted medical centers, and supplementary insurance for pensioners. The final stages of this process are underway, with cooperation from high-ranking officials.
Commitment to Healthcare Services and Asset Protection
The organization reaffirmed its two fundamental priorities: providing sufficient and timely pension payments and completing healthcare service delivery. Salari detailed a new proposed structure for the healthcare division, designed to enhance efficiency and service quality across its directly-owned medical centers.
He firmly dismissed any speculation about the privatization of these valuable assets, noting that the property value of the Social Security Organization’s medical centers alone is estimated at 600 hamtas, not including their invaluable intangible assets like expertise and human resources.
The organization plans to use the bonds from the government, once liquidated, to settle audited debts of medical centers and cover costs for life and supplementary insurance, ensuring the stability and improvement of its healthcare network.
