Iran’s Social Security Fund for Farmers Set to Implement Pension Adjustment Law
A significant development is underway for Iran’s agricultural, rural, and nomadic communities. The Social Security Fund for Farmers, Villagers, and Nomads has announced plans to implement the pension adjustment law for its beneficiaries in the coming year, a move set to positively impact the lives of over 129,410 retirees and pensioners currently under its coverage.
Strategic Planning for Enhanced Pensions
Hamed Ghader-Marzi, the Managing Director of the Fund, confirmed the ongoing preparations. Speaking at a ceremony for Employee’s Day, he emphasized that the necessary planning for the execution of the pension adjustment law has been completed. This initiative is a key part of the Fund’s broader strategic and operational programs, which include not only pension payments but also providing special loans and extensive services across various sectors.
The implementation of this law next year will ensure all eligible pensioners receive a proportionate increase in their monthly stipends, enhancing their financial stability.
Extensive Coverage and a Sustainable Model
The Fund’s reach is substantial. Current statistical data reveals it provides comprehensive services to over 3.35 million members, of which more than 2.02 million are actively insured individuals. The pensioner breakdown is as follows:
- 113,788 retirement pensioners
- 106,150 survivor pensioners
- 12,941 disability pensioners
All these groups are slated to benefit from the upcoming pension adjustment.
A key indicator of the Fund’s robust health is its high support ratio, which increased by 1.7% by the end of the last Persian year, reaching a stable figure of approximately 10. This financial sustainability ensures the Fund will face no obstacles in securing the resources required to provide services to its pensioner community and implement the new adjustments.
Expanding Services and Membership
In recent years, the Fund has prioritized expanding its membership base, successfully adding over one million new insured individuals. This growth strategy is crucial for securing the sustainable resources needed to support its pensioners. The government provides significant backing, covering 70% of the insurance premium for members, with the insured individuals responsible for the remaining 30%.
The Fund actively encourages eligible individuals aged 18 to 50 to enroll. Its coverage extends to a wide range of professions and groups, including:
- Permanent residents of villages and nomadic regions
- Farmers, seasonal workers, and those in construction
- Residents of cities with a population of less than 20,000
- Female heads of households, homemakers, and weavers
- Transport drivers, artisans, and athletes
This inclusive approach aims to provide social security benefits to a vast segment of the population that contributes to the nation’s agricultural and rural economy, ensuring their well-being through retirement, disability, and survivor pensions. The forthcoming pension adjustment marks a continued commitment to this mission.
