Title: Social Security Organization Rolls Out Essential Loan Program for Retirees
In a significant move to support its retiree community, Iran’s Social Security Organization is continuing the disbursement of its 50 million Tomans essential loan. The program, which began earlier this year, is being rolled out in phases, with tens of thousands of pensioners having already benefited.
Aiding Retirees in the Current Economic Climate
Recognizing the importance of supporting retirees, the Social Security Organization has initiated this financial assistance program to help cover essential living costs. The loan is designed to provide a measure of economic relief and improve the welfare of this valued segment of the population.
Key Eligibility Criteria for the Loan
To qualify for the 50 million Toman loan, applicants must meet the following conditions set by the Social Security Organization:
- Be a pensioner receiving their pension through Bank Refah.
- Be under the age of 77.
- Have no history of bounced checks or outstanding bank debts.
- Not have used a similar facility within the last three years.
- Have a mobile phone SIM card registered in their own name, with the number provided during the application.
Loan Repayment Structure
The loan carries an annual service fee of 4%. The repayment period is set at 24 months, with monthly installments being automatically deducted from the retiree’s pension. The total repayment amount, including the principal and the fee, is 53 million Tomans.
Registration and Disbursement Process
Retirees can register for the loan in person at their local provincial or city retirement associations. Furthermore, comprehensive information and registration steps are available on the official website of the High Council of Retirees.
Officials have emphasized that the entire process is automated. Eligible individuals who have already registered and received an initial confirmation SMS from Bank Refah will receive a second message confirming the deposit timeline. Recipients are advised that there is no need to respond to these official SMS messages.
Important Advisory for Recipients
A crucial requirement for the successful deposit of the loan is maintaining a minimum balance of 100,000 Tomans in the pension account. A shortfall may disrupt the transfer process.
In an official statement, the Social Security Organization urged retirees to “await the deposit of their loan calmly and without worry. All procedures are under the supervision of Bank Refah and the Social Security Organization, and there is no need for in-person visits or contact with bank centers.”
The organization also issued a warning for retirees to be vigilant and not respond to any suspicious text messages or phone calls from individuals falsely claiming to be bank or organization representatives, to prevent potential fraud.
This initiative underscores the ongoing efforts by national institutions to implement supportive social welfare policies for the country’s retirees.