Monetary and Banking Research Institute
Date:6/25/2018 7:16:22 PM   |   Code : 293742
Social Security Pensioners’ Status – Higher Government Aid to Funds
Esmaeil Gorjipour:
Social Security Pensioners’ Status – Higher Government Aid to Funds
 

“Almost 20% of the pensioners receive lower than the minimum wage and 77% live below the poverty line.” General Director of the Social Insurance at the Ministry of Cooperatives, Labor and Social Welfare, Esmaeil Gorjipour stated.

Gorjipour highlighted in the 28th Annual Conference on the Monetary and Foreign Exchange Policies: “Insurance Penetration has started from 29% to approximately reach 70% since 1976.”

He added: “Nominal wage ascended by 16.1% from 1969 to 1978 whereas it moved up to 23% from 2011 to 2016. Except for 1969 to 2010 when the minimum real wage was 6%, it experienced minus growth in other periods. Henceforth, the purchasing power has dipped.”

 

General Director of the Social Insurance at the Ministry of Cooperatives, Labor and Social Welfare emphasized: “Pensioners face lower purchasing power with the fluctuations in markets as average nominal pension growth was higher than inflation rate since 2013.”

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