Retirement Funds Update: April Arrears to be Paid Starting September 3rd
In a significant development for the nation’s retirees, the Social Security Organization has officially announced the schedule for the long-awaited payment of pension arrears. This move is part of the government’s ongoing commitment to supporting its retired citizens and aligning their incomes with the cost of living.
Payment Schedule Confirmed
According to a statement from Mostafa Salari, the Managing Director of the Social Security Organization, the process of paying the arrears related to the annual increment and pension adjustments will commence on Wednesday, September 3rd. The initial phase will prioritize retirees receiving the minimum pension bracket, a group that constitutes approximately 70% of all Social Security pensioners.
Mr. Salari further emphasized that “the arrears for all other pensioners will be settled by the end of the month of Shahrivar (September 21st).” This announcement brings clarity and relief to pensioners who have been awaiting these funds for several months.
Financial Details of the Disbursement
The payment, which is calculated as part of the 2024 pension increase, is estimated to average between 3 to 4 million tomans per individual. This sum will be deposited into retirees’ accounts separately from their regular monthly pension.
Officials have stated that this disbursement is a key component of the government’s pension harmonization plan. The primary objective is to bridge the gap between pension incomes and the real costs of living, thereby directly improving the welfare of the retired community.
Acknowledging Economic Challenges
In his address, Mr. Salari provided context for the delay, citing serious challenges in the organization’s financial resources. He detailed a significant shortfall in forecasted insurance premium revenues, which necessitated borrowing to meet existing pension obligations. He affirmed that despite these economic pressures and imbalances, the organization prioritized finding a solution to fulfill its duty to pensioners.
Highlighting the government’s substantial financial commitment, it was noted that pension costs have risen from approximately 62 to over 95 billion tomans since the implementation of the pension adjustment plan in Aban 1403 (October 2024), which resulted in a more than 1.5-fold increase in pension payments for retirees.
Conclusion: A Step Towards Enhanced Welfare
The confirmed payment schedule finally provides a clear answer to the pressing question on the minds of the nation’s retirees. With the disbursement of these arrears, the government demonstrates its continued focus on social welfare and its resolve to uphold the financial security of its retired citizens, a key pillar of the country’s social contract.
