Iran’s Oil Pension Fund Announces Significant 38% Pension Increase, Highlights Service Expansion
In a significant move to enhance the welfare of its retirees, Iran’s Oil Industry Pension Funds have announced a substantial 38% increase in pensions. The head of the funds, Ebrahim Mansournezhad, detailed this and other recent service improvements, framing them as part of a broader effort to foster vitality and well-being among pensioners.
A Focus on Vitality and Service
The announcement was made during the sixth sports festival for retired veterans and individuals with disabilities of the oil industry. Mansournezhad emphasized that such cultural and sporting events are central to the fund’s mission of creating “vibrancy and dynamism” within the retiree community. He further underscored that the core nature of the pension funds is service-oriented, dedicated to retirees and their beneficiaries.
Overcoming Challenges for Retiree Welfare
Acknowledging that fulfilling all demands faces administrative, regulatory, and insurance-related challenges, Mansournezhad reported that comprehensive efforts over the past year have led to major strides in service delivery. He outlined ten key achievements, demonstrating a multi-faceted approach to improving retiree livelihoods.
Key Service Enhancements in the Past Year
The listed accomplishments include:
- The distribution of shopping benefit cards.
- The implementation of pension adjustments.
- A 50% reduction in medical co-payments.
- A 100% increase in survivor pensions.
- The approval of a schedule for ten occasion-based payments.
- Increases in interest-free loans.
- The payment of over 42,000 pension advance installments.
Substantial Pension Boost
Central to these developments is the confirmed 38% rise in pensions for those covered by the fund, calculated from the base amount of the previous Persian calendar year. This significant increase marks a direct financial uplift for retirees.
A Commitment to Continuous Improvement
Mansournezhad concluded by reaffirming the ongoing commitment to address retiree expectations. He stated that while economic challenges persist, the level of service in the areas of pensions, welfare, and medical care remains satisfactory, and efforts to meet further needs and demands will continue.