East Azerbaijan Pension Fund Leads Nationally with Comprehensive Support and Landmark Development
In a significant update on social welfare and economic development, the East Azerbaijan Pension Fund has been recognized as the nation’s top-performing provincial fund. This announcement, detailed by Fund Manager Tahereh Ahmadzadeh, highlights a multi-faceted approach to supporting retirees that extends far beyond pension payments.
A Holistic Support System for Retirees
Ahmadzadeh emphasized that the fund’s primary mission is the timely payment of pensions, but its role is greatly expanded through a suite of online welfare and support services offered via its portal. These services are designed to directly improve the quality of life for retirees and their families.
To date, these initiatives have had a substantial impact. Over 737 retirees in the province have successfully secured marriage loans for their children, totaling approximately 440 billion rials in facilitated credit. The fund also provides installment insurance plans, credit for purchases at reputable stores, discounted domestic and international travel packages, and organizes sports festivals.
Demographic and Economic Overview
The fund currently provides for 89,806 retirees in East Azerbaijan, with an average monthly pension of 205 million rials. This support extends to nearly 120,000 individuals when including dependents. The retiree demographic is 67% male and 33% female, with an average retirement age of 52 and a current average age of 65. The education sector represents the largest group of retirees at over 64%, followed by medical sciences, road and urban development, and agriculture.
National Recognition and Asset Development
The fund’s performance in the first quarter of this year, assessed against 60 general and specific indicators, earned it the first-rank position among all provincial funds, for which it was honored during Government Week.
In a parallel development signaling strategic economic management, Ehsan Mousavi, CEO of the Saba Omran Holding Company, announced a major milestone: the acquisition of a construction permit for the long-dormant Motahari project after nearly nine years. This large-scale administrative-commercial project, with a built-up area of over 19,000 square meters across 22 floors, is a landmark achievement.
Mousvi stated that this accomplishment, realized with minimal cost and in record time, aligns with the macro policies of the National Pension Fund to generate value and productivity from its assets. The permit is expected to yield significant short-term financial returns for the holding company and create long-term value, serving as a crucial pillar for accelerating the project’s execution. Operational work on the Motahari project is slated to begin in the near future.
This success is presented as a symbol of efficient asset management and smart economic planning, aimed at generating sustainable profitability and safeguarding the interests of shareholders and the nation’s retirees.