Title: Landmark 50 Million Toman Loan for Retirees on Track for Full Disbursement by Year-End
In a significant move to support its retired community, Iran’s National Retirement Fund has confirmed the ongoing disbursement of a substantial 50 million Toman loan, with all remaining eligible recipients set to receive their funds before the end of the current Iranian year.
A Phased Approach to Widespread Support
The Fund’s management has outlined a strategic, multi-stage payment plan designed to extend coverage to the largest possible number of retirees by carefully managing its available resources. This systematic approach underscores a commitment to equitable distribution while also reflecting the practical financial constraints and liquidity challenges faced by pension funds globally.
To date, the Fund has successfully processed payments for 267,000 retirees who have received the essential 50 million Toman loan.
Breaking Down the Disbursement Figures
Alaeddin Oruj, the Acting Head of the National Retirement Fund, provided detailed insight into the program’s scope. “Since the beginning of the year, and in accordance with our agreement with the agent bank, approximately 19 trillion Tomans in credit has been allocated for financial facilities for retirees,” Oruj stated.
He further clarified that out of nearly 800,000 applicants for the 50 million Toman loan, 288,000 were deemed eligible. “So far, 201,000 individuals have received their loans in seven phases during the month of Azar. The remaining approximately 86,000 eligible retirees will receive their funds in three additional phases before the year’s end,” Oruj confirmed.
A Broader Suite of Supportive Measures
Beyond the essential loan, the Retirement Fund is providing a diversified portfolio of support to address various family needs. This includes a 60 million Toman marriage loan for retirees’ children and subsidized student thesis grants.
Oruj reported that over 31,000 retirees have already received the marriage loan out of 42,000 applicants, with arrangements made to gradually cover the remaining applicants. Furthermore, affordable thesis grants have been provided to 14,070 students.
Navigating Challenges with Strategic Policy
In total, through cooperation with agent banks, the Fund has facilitated over 12.5 trillion Tomans in financial facilities for retirees. While these measures provide crucial short-term relief for immediate financial needs, they also highlight the necessity for continued structural reforms. The long-term welfare of retirees is increasingly linked to sustainable economic policies for pension funds and the alignment of social welfare programs with the nation’s broader economic realities.