Minimum pension in Iran to be increased
BAKU, Azerbaijan, March 31
By Elnur Baghishov - Trend:
Pensions will increase by 6-7 million rials (about $142-166) in the current Iranian year (starting March 20, 2020) in Iran, Trend reports citing Plan and Budget Organization of Iran.
According to report, from now on, the minimum pension will be 28 million rials (about $666).
The funds will be paid to Iranian citizens who have recently retired until the end of the 6th month of the current Iranian year (September 22, 2020).
The Iranian budget envisages 15 percent increase in pensions.
According to the Labor Code of Iran, in order to retire, one needs to work for 30 years.
Iran's budget for this year is 5 quadrillion rials (about $119 billion).