Iran raises pensions for retired workers by over 38%
The Iranian government has approved a raise in monthly pensions paid to millions of retired workers in the country.
Caretaker labor minister Mohammad Hadi Zahedivafa said on Thursday that monthly pensions for retired workers who are on the payroll of Iran’s Social Security Organization (SSO) will rise by 38% plus a fixed monthly handout of 5.15 million rials ($17.5) as of September.
The raise will be applied retroactively to pensions paid since the start of the calendar year in March, said Zahedivafa.
The move comes amid efforts by the Iranian government to shield households against rising consumer prices in the country.
It is estimated that nearly 10 million people in Iran will benefit from the raise as nearly 3.6 million pensioners on SSO payroll, including 2.4 million retired workers, and their families will be affected by the move.
An initial plan to raise SSO retirement pensions by only 10% had triggered demonstrations by pensioners. The protests and other controversies surrounding the issue even caused a former labor minister to resign in mid-June.
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