Unlocking Financial Security: Social Security Organization Expands Support with Low-Interest Loans for Retirees
In a significant move to bolster the economic welfare of its beneficiaries, Iran’s Social Security Organization has announced the continued rollout of its essential interest-free loan program for the current year. The initiative represents one of the organization’s most substantial financial support measures, directly impacting nearly 4.9 million retirees and pensioners across the nation.
Enhanced Financial Support
A key development for the current Iranian year (1404) is a notable 67% increase in the maximum loan amount available. Eligible retirees can now access loans of up to 50 million tomans, a substantial rise from the previous year’s ceiling of 30 million tomans. This enhancement underscores the organization’s commitment to addressing the financial needs of this important segment of society.
Favorable Terms for Beneficiaries
The loans are designed to be accessible and manageable. They are offered with a minimal annual service charge of 4% and are structured for convenient repayment over a 24-month period, with installments deducted directly from the recipient’s monthly pension. The terms are designed to provide immediate financial relief without creating long-term burdens.
Eligibility and Registration
To qualify, applicants must meet specific criteria, including receiving their pension through Bank Refah Kargaran, having no history of bounced checks or outstanding bank debts, and ensuring their registered mobile number is in their own name. Registration for the program commenced in early May 2024, and the organization has already successfully disbursed funds in three separate phases to tens of thousands of beneficiaries. The rollout is ongoing, with a planned goal of reaching 300,000 retirees and pensioners this year.
A Step Towards Greater Welfare
This comprehensive financial program is widely viewed as a crucial step in alleviating living expenses and strengthening the overall welfare of retirees. By providing immediate access to capital at a low cost, the initiative aims to significantly reduce financial pressures and enhance the quality of life for its recipients.
Those interested in benefiting from these facilities or seeking more information are encouraged to visit the local provincial retirement association offices or refer to the official website of the High Council of Retirees at kanoone-ali.ir.
