Pension Fund of Iran forecasts an increase of 120 million rials increase in annual salary of pensioners for the next Iranian year, 1398.
To reach this point, the Fund has asked the government to submit a grant of 150,000 billion rials (more than one billion dollars) in the next year budget.
According to Jamshid Taghzade, CEO of Pension Fund of Iran, currently there are 1.4 million pensioners under their support, where 95% of them have a monthly salary below 30 million rials.
Mr Taghizade also indicates the immediate availability of loans for 400 thousand subscribers, worth 20,000 billion rials (145 million USD). He also pointed that after lobbying with MPs, the Fund will put the children of its members in priority for job vacancies in the daughter companies of the Fund.
Following the devaluation of Rial and fast-growing prices and inflation rate, the government has introduced a “supporting package” including foods for low-income households. Initially, this plan had included only poor households, however later the range was modified.
This week the Ministry of Labour and Social Welfare announced that the plan will also include pensioners and employees with a monthly salary below 30 million rials. This definition makes half of the country’s population eligible for this package, i.e. 40 million people.
The supporting plan requires 90,000 billion rials per year and each eligible person will receive 2.25 million rials per year.
Considering that 24 percent of Iran’s population are under 14 years-old, the plan covers almost 66% of the rest.