Title: New 50 Million Toman Loan Rollout for Social Security Pensioners Begins
In a move to bolster the financial standing of its retirees, a new phase of registration for a 50 million Toman loan is set to commence for members of the Social Security Organization. This initiative is part of a broader support program designed to assist pensioners in managing current economic conditions.
Eligibility and Registration
Registration for the loan will be managed through designated retirement associations. To qualify, applicants must meet the following criteria:
- Hold a valid association membership card.
- Have a mobile phone number registered in their own name.
- Receive their pension through the Workers’ Welfare Bank.
- Priority will be given to those who have not previously received a loan. Individuals who have already obtained 12, 20, or 30 million Toman loans are not eligible for this phase.
- New retirees must have been retired for at least two years.
- Those who registered between 2021 and 2024 (up to April 2025) do not need to re-apply.
Loan Terms and Structure
The loan, which is now in its fourth disbursement phase, comes with the following terms:
- Loan Amount: 50 million Tomans.
- Service Fee: 4%
- Repayment Period: 24 months.
- Monthly Installment: 2,272,727 Rials.
The first and thirteenth installments are fee-inclusive and differ in amount:
- First Installment: 2 million Tomans.
- Thirteenth Installment: 1 million Tomans.
The total repayment amount is 53 million Tomans, with the total service fee calculated at 3 million Tomans. These two specific installments will be deducted from the pensioner’s account at the beginning of each year.
Staggered Disbursement Schedule
The payment of these facilities is being carried out in two separate batches to ensure a smooth process:
- First Batch: Successfully transferred on Tuesday, September 30, 2024, for 20,000 selected pensioners.
- Second Batch: Scheduled for Sunday, October 5, 2024, for an additional 20,000 eligible individuals.
Official Guidance and Security Advisory
Authorities have emphasized that the entire process is automated. Pensioners who have received confirmation SMS messages from the Workers’ Welfare Bank do not need to reply or take any further action.
A key 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 assured pensioners: “Our dear retirees are requested to await the transfer of their loan calmly and without worry. All steps are being carried out 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 warning was also issued, advising 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.