Iranian Retirees to Receive Staged Mid-Year Pension Increase
In a significant move to enhance social welfare, the implementation of a mid-year pension adjustment scheme for Iranian retirees has officially commenced. This long-anticipated initiative by the Social Security Organization is set to provide financial relief to pensioners through a structured, three-phase payment plan.
The adjustment is designed to establish equitable payment structures across different retiree groups, in accordance with mandated executive bylaws and regulations. The first installment is scheduled for disbursement shortly, with subsequent phases to follow at designated intervals.
Substantial Funding Allocated for Pension Adjustment
A senior official from the Social Security Organization announced that over 320 trillion rials has been allocated for the current year’s pension adjustment scheme. An additional 220 trillion rials has been designated to cover last year’s increases, bringing the estimated total monthly cost of implementation to approximately 550 trillion rials.
Eligibility and Plan Duration
All retirees covered by the Social Security Organization are eligible for the adjustment. The multi-year plan, which began in Aban 1403 (October/November 2024), will be executed over a three-year period. Its primary objective is to compensate for 90% of the reduction in the pension coefficient relative to the minimum wage at the time the pension was established.
Breakdown of the Pension Increase
As per a decree ratified by the Council of Ministers and communicated by the First Vice President, the increases are as follows:
- Retirees and partial disability pension recipients receiving the minimum base amount will see a 45% increase in their pensions.
- Retirees with pensions above the minimum wage will receive a 32% increase plus a fixed sum of 931,605 tomans.
- Family and child allowances will be paid in line with the rates for retirees of executive agencies.
Implementation and Payment Schedule
The phased payment of the adjusted pension amounts began at the start of the current Iranian year (March 2024) and is ongoing. This staggered approach ensures the structured and equitable distribution of funds to all eligible beneficiaries.
This pension adjustment is poised to substantially alleviate financial pressures on retirees, improving their standard of living. The Social Security Organization has emphasized the necessity of securing sustainable resources to ensure the full benefits of the scheme are delivered to retirees over the next three years.
