August Payroll Update: New Support Account System for Armed Forces Retirees
A new initiative by the Armed Forces Retirement Fund to enhance financial service stability has led to the creation of support accounts for its retirees. However, the rollout has encountered operational challenges, leading to some delays for recipients.
Core of the New System
In a move to streamline future payments and bolster financial infrastructure, the Retirement Fund announced the establishment of support accounts for all its retirees at Bank Tejarat. A sum of one million Tomans from their July payroll was transferred into these new accounts. The initiative is designed to ensure the timely disbursement of monthly salaries, particularly under specific circumstances, and is part of broader planning for new welfare schemes and long-term financial facilities.
Retirees are required to visit designated Bank Tejarat branches to personalize these accounts and receive a dedicated bank card, allowing them to access the funds. The process for personalization is available until the end of the current month.
Operational Hurdles and Bank Response
The implementation phase has seen a significantly high volume of visitors to bank branches across the country. Many retirees reported having to make multiple visits in the summer heat, as bank officials frequently asked them to return on a later date due to the overwhelming demand.
Bank Tejarat, in coordination with the Retirement Fund, has acknowledged the operational strain. A senior official from the fund, Amir Rahbar, confirmed that an additional one million Tomans from the August payroll would also be deducted and transferred to these support accounts, underscoring the system’s intended permanence.
In response to the congestion, Bank Tejarat has implemented several managerial measures. These include extending daily working hours at certain branches, keeping some branches operational on holidays, and enhancing customer service protocols to manage the influx better. The bank’s senior management is closely monitoring the situation to address any case-by-case inconsistencies swiftly.
Official Guidance for Retirees
The Armed Forces Retirement Organization has issued an official statement urging retirees to avoid early and crowded visits to the bank. Retirees who have not yet personalized their accounts are advised to schedule their visit gradually before the end of the month to ensure a smoother process and shorter wait times. The organization has emphasized that the funds become accessible immediately upon receiving the card and its PIN.
The statement also reassured that the bank is fully focused on managing the high volume of visitors with the utmost respect and efficiency to ensure maximum satisfaction for the retirees, who are held in high esteem.
