Title: New Financial Support Initiative Launches for Retired Community
In a move to bolster the economic resilience of its retired population, a new registration phase for a substantial 50 million Toman loan is set to open next week at select Social Security Organization retirement associations. This initiative is part of a broader support program designed to enhance the financial capabilities of retirees amidst current economic conditions.
Eligibility and Registration Details
Prospective applicants must meet specific criteria to qualify for this financial aid. Key requirements include holding a valid retirement association membership card, having a mobile number registered in the applicant’s name, and receiving a pension through the Workers’ Welfare Bank.
Priority for this loan phase will be given to individuals who have not previously received any such loans. Those who have already obtained 12, 20, or 30 million Toman loans are not eligible for this round. Furthermore, individuals who registered between 2021 and 2024 do not need to re-apply until further notice. Newly retired individuals must have a retirement date at least two years prior to be considered.
Loan Terms and Disbursement Schedule
The loan, which is in its fourth phase of distribution, comes with the following terms:
- Loan Amount: 50 million Tomans
- Service Fee Rate: 4%
- Repayment Period: 24 months
- Monthly Installment: 2,272,727 Rials
The total repayment amount is 53 million Tomans, with a total service fee of 3 million Tomans. It is noted that the fee-based installments (the first and thirteenth) are deducted from the retirees’ pensions at the beginning of each calendar year.
The disbursement of funds is being carried out in two separate batches to ensure an orderly process. The first batch was successfully transferred to 20,000 selected retirees. A second batch is scheduled for distribution to another 20,000 eligible individuals.
Official Guidance and Security Advisory
Authorities have provided clear guidance for recipients. Retirees who have previously registered and received an initial confirmation SMS from the Workers’ Welfare Bank have been sent a second message confirming the transfer date. Officials strongly emphasize that there is no need to respond to these SMS messages, as the entire transfer process is automated.
A crucial requirement for a successful transfer is maintaining a minimum balance of 100,000 Tomans in the pension account. Failure to do so may disrupt the transaction.
In an official statement, the Social Security Organization urged retirees to “await the transfer of their loan calmly and without worry.” The statement confirmed that “all procedures are under the supervision of the Workers’ Welfare Bank and the Social Security Organization, and there is absolutely no need for in-person visits or contact with bank centers.”
A security advisory was also issued, warning retirees not to respond to suspicious text messages or phone calls from individuals falsely claiming to be bank or organization representatives to prevent any potential fraud.
Through the implementation of this phase, a total of 40,000 eligible retirees are slated to receive their 50 million Toman facilities, marking a significant supportive measure for the retired community.