Rewritten Title: New Welfare Initiative for Iranian Retirees: Low-Interest Loans, Installment Travel, and Credit Facilities Announced
Rewritten Article:
In a significant move to enhance the welfare of its retired community, comprehensive new support packages have been announced for pensioners. These initiatives, developed by the Country’s Pension Fund and agent banks, aim to directly address living standards by boosting purchasing power and facilitating social engagement through affordable travel options.
A Multi-Faceted Support Package
Moving beyond simple cash payments, this new welfare package is designed to provide tangible benefits in two key areas: access to essential goods and services, and opportunities for social and recreational activities. The program is available for retired civil servants and educators.
Key Benefits at a Glance
1. Essential 50 Million Toman Loan
A popular feature of the new package is a low-interest, essential needs loan.
- Loan Amount: Up to 50 million Toman, offered as Qard-al-Hasanah (interest-free loan).
- Terms: A minimal 4% service fee with a long-term, 60-month (5-year) repayment period to ease the financial burden on recipients.
- Application: Eligible individuals can apply through the Country’s Pension Fund electronic services portal (eservices.cspf.ir). Approximately 300,000 such loans are allocated for eligible pensioners.
2. Installment Plan Purchases for Home Appliances
To help retirees acquire larger household items, agreements have been made with major retail chains.
- Eligible Products: Home appliances, furniture, carpets, and bedding.
- Purchase Conditions: Retirees can buy from partner stores with very low profit rates, with installments deducted directly from their monthly pensions.
3. Discounted Pilgrimage and Tourist Travel
Aiming to improve the social well-being of retirees, the package includes heavily discounted travel options.
- Destinations: Trips to pilgrimage cities like Mashhad, as well as tourist destinations such as Kish, Qeshm, Shiraz, and Isfahan.
- Key Advantage: Significant discounts on hotel accommodations (up to 45%) and the possibility of interest-free, installment-based travel payments. Registration is also handled through the pension fund’s electronic services portal.
Expanded Credit Facility
Recent reports also highlight a larger credit facility for some retirees, offered in collaboration with the Bank of Welfare.
- Facility Type: A welfare credit card for purchasing goods and services.
- Credit Limit: Variable, ranging from 10 million to a maximum of 300 million Toman, with the final amount dependent on the individual’s repayment capacity and pension history.
- Conditions: No guarantor is required, as repayments are secured through direct deduction from the pension.
- Usage: The card is designated for use at partner stores and service centers of the Bank of Welfare, streamlining the purchasing process for major items.
This comprehensive welfare package represents a focused effort to support the retired community, providing them with greater financial flexibility and improved quality of life.
