Title: Social Security Organization Implements Major Pension Adjustment, Deposits Commence
In a significant move to enhance pensioner welfare, the Social Security Organization has begun disbursing the first phase of adjusted payments and annual salary increases for its retirees and pensioners.
First Tranche of Payments Initiated
The initial phase of payments, covering adjustments related to the Persian month of Farvardin, commenced on September 2nd. These funds have been deposited into the accounts of retirees and disabled individuals whose monthly income is less than 20 million tomans. The disbursement was carried out by the agent bank over Wednesday and Thursday.
Second Phase Scheduled for Late September
A subsequent, second phase of payments is scheduled to be deposited simultaneously with the regular September pension payments. This phase will comprehensively cover all eligible survivors, including surviving spouses and daughters, ensuring they receive their full entitlements.
Furthermore, the arrears for pensioners whose monthly income exceeds 20 million tomans are slated for deposit in the early days of the Persian month of Mehr.
Substantial Financial Commitment
Banafsheh Mahmoudian, Director General of Pensions at the Social Security Organization, announced that over 3200 billion tomans have been allocated for the pension adjustment in the current year. This initiative is part of a multi-year framework mandated by the country’s development laws.
The pension adjustment process, which began in Aban 1403 (October 2024), has already completed adjustments for the first and second years for over 4.7 million Social Security pensioners. The process is designed to continue into the next year, aiming to compensate for 90% of the pension coefficient decline relative to the minimum wage at the time the pension was established.
A Structured Multi-Year Approach
The implementation follows a precise, three-step calculation method for the current year’s adjustment. This structured approach ensures that the annual increase approved by the Supreme Labor Council is accurately applied to pension values from the previous and current years.
Ms. Mahmoudian detailed that the monthly financial commitment for this year’s adjustments is substantial, totaling approximately 5500 billion tomans. This includes over 3200 billion tomans for the 1404 adjustment and more than 2200 billion tomans for the enhanced adjustment from the previous year.
This comprehensive pension adjustment underscores the organization’s commitment to fulfilling its legal obligations and improving the financial well-being of retirees and their families, in accordance with the nation’s development plans.