Title: National Pension Fund Chief Outlines Comprehensive Plan for Retiree Benefits, Highlights Progress on Back Payments
In a series of meetings during Government Week, the CEO of Iran’s National Pension Fund detailed ongoing efforts to address retirees’ financial concerns, emphasizing collaboration with the government to fulfill obligations.
Government Collaboration Fuels Payment Initiative
Hojjat Mirzaei, the CEO of the National Pension Fund, announced that the process of settling retirees’ back payments from previous years commenced in the current Iranian calendar year (starting March 21, 2024). This initiative, he stated, is a direct result of close coordination and cooperation with the government and the Plan and Budget Organization.
Mirzaei emphasized that payments for four specific beneficiary groups are scheduled for this month. He confirmed that arrears from the first half of the year 1400 (2021-2022) and the 15% arrears for retirees of the Ministry of Health are being pursued within the legal framework.
Strategic Solutions for Liquidity and Healthcare
Acknowledging past challenges in securing the necessary liquidity, Mirzaei reported that positive results have been achieved through necessary follow-ups with relevant authorities to remove legal obstacles.
To address these financial commitments, the Fund is prioritizing strategic solutions. “For instance, shares of Southern Aluminium Company and similar assets are being considered as a mechanism to compensate for arrears,” Mirzaei explained, highlighting innovative approaches to resource allocation.
On healthcare, the CEO addressed the supplementary insurance program, expressing hope that government-allocated bonds will soon settle the Fund’s related commitments. Furthermore, necessary follow-ups are underway to enhance the level of supplementary insurance services for retirees.
New Welfare Measures and Cautious Reform
Mirzaei also unveiled a new welfare initiative: a contract that will allow retirees to make purchases from 14,000 stores across the country with a two-month, interest-free repayment plan. The technical issues for this project have been resolved, and it is slated for implementation soon.
Stressing the complexity of the pension system, Mirzaei cautioned against abrupt changes. He noted that a comprehensive report on the current situation has been prepared by a research team and will be submitted to the government and parliament to inform future policy, ensuring that any adjustments to pension harmonization are sustainable and effective.
Yazd Hailed as a Model for Retiree Engagement
The announcements were made during the CEO’s visit to Yazd Province, where he met with local retiree associations. He praised Yazd as an exemplary model of hard work and effective management, specifically commending the strong, positive relationship between the Fund and the province’s retirees.
In a meeting with retired educators, Mirzaei, who noted his own long history with the Education Ministry, expressed his pleasure at meeting with the veterans of the profession. He lauded the Yazd Retired Teachers’ Association for its transformative community projects and its administration of significant interest-free loan programs, which he stated greatly assist both retirees and the Pension Fund itself.
