Title: Social Security Pensioners Receive Fourth Tranche of Interest-Free Loans
Introduction: A Commitment to Pensioner Welfare
In a significant move to bolster the economic security of its retirees, the Iranian Social Security Organization has announced the successful disbursement of the fourth phase of its interest-free loan program for pensioners. This initiative, conducted in collaboration with the Bank of Refah, underscores the ongoing institutional commitment to alleviating financial pressures on this segment of the population.
Loan Disbursement: Phased Implementation in 2024
The latest phase of the program saw the allocation of 40,000 loans to eligible pensioners who had previously received a confirmation SMS. This disbursement is part of a broader annual plan for the Iranian year 1404, which aims to distribute a total of 300,000 interest-free loan installments to Social Security retirees and beneficiaries in bi-monthly phases.
The disbursement schedule for the year has been as follows:
- Phase One: 38,753 loans allocated in Khordad (May-June).
- Phase Two: 34,657 beneficiaries in Tir (June-July).
- Phase Three: 39,593 pensioners in Shahrivar (August-September).
- Phase Four: 40,000 loans in the most recent phase.
Enhanced Loan Terms and Key Conditions
A key development in this year’s program is the increase in the maximum loan amount from 30 million tomans to 50 million tomans. The terms are designed to be accessible, featuring a low annual service fee of 4% and a 24-month repayment period, with installments being deducted directly from the pensioner’s monthly salary.
To qualify, applicants must meet specific criteria, including:
- Receiving their pension through the Bank of Refah.
- Being under the age of 77.
- Having no outstanding bank debts or bounced checks.
- Not having received a similar loan within the past three years.
- Possessing a mobile phone number registered in their own name.
Priority in allocation is given to pensioners with the lowest income, those with specific and difficult-to-treat illnesses, and individuals with documented essential needs such as a child’s marriage or relocation.
Streamlined Registration Process
The application process has been designed for convenience. Eligible pensioners can register through two primary channels without the need for direct bank contact:
- Designated pensioner association centers.
- Government Service Counters (Pishkhan) across the country.
Required documents for registration include a national ID card, the latest pay slip, and Bank of Refah account details. Applicants are notified of the outcome exclusively via SMS, and the loan is deposited directly into their designated bank account.
Conclusion: A Sustained Social Welfare Initiative
The systematic rollout of these financial facilities highlights a sustained policy focus on supporting retirees. By providing substantial, low-cost credit, the Social Security Organization aims to effectively cover essential needs and reduce the economic burden on pensioners, reaffirming its role in safeguarding social welfare.
