Title: New Financial Support Initiative Launched for Iranian Retirees and Pensioners
In a significant move to bolster social welfare, the Worker’s Welfare Bank has announced the extension and revision of its “Karāmat” (Dignity) Plan. This initiative is specifically designed to provide comprehensive financial support to the nation’s retirees and pensioners, underscoring a continued commitment to their economic well-being.
Expanded Access to Credit
The Karāmat Plan facilitates access to non-commercial, micro-loans for essential needs, with a substantial ceiling of 4 billion Rials. The scheme is tailored to offer long-term repayment options of up to 48 months, easing the financial burden on beneficiaries. The loan amount is determined based on the applicant’s current account average, ensuring a customized and manageable financial solution.
Eligible Beneficiaries
The plan extends its benefits to a wide range of retirees and pensioners, including:
- Pensioners of the Social Security Organization.
- Retirees from medical sciences universities.
- Members of the Steel Industry Employee Support and Retirement Fund Institute.
Eligibility is confirmed for individuals who receive their pension or salary through the Worker’s Welfare Bank.
Streamlined Process for Applicants
Interested individuals can apply by visiting any branch of the Worker’s Welfare Bank and submitting the required documentation, which typically includes a national ID card, proof of salary receipt from the bank, and current account information. Following a review process, the loan is disbursed directly to the applicant’s account.
Complementary “Kārgošā” Loan Facility
In a complementary effort, the bank is also offering the “Kārgošā” (Problem-Solver) loan, providing up to 300 million Tomans without the need for a guarantor. This loan carries a fixed service fee of 4% and is designed to address urgent needs such as medical expenses, housing, and family costs. Repayment is structured over a 24-month period, with installments deducted directly from the recipient’s monthly salary to ensure a seamless process.
A Commitment to Social Welfare
Bank officials have emphasized that these financial packages represent a concrete step in the nation’s social welfare strategy. By providing accessible credit options, the initiatives aim to play a vital role in enhancing the economic stability and quality of life for retirees and pensioners, reflecting a deep-seated commitment to honoring their lifelong contributions.
