Iran Social Security Fund deficit $1.2B
Tehran, Iran, March 5
By Mehdi Sepahvand –- Trend:
Iran Social Security Fund suffers a deficit of 40 trillion rials ($1.2 billion, each USD at 32,422 rials), says Taqi Nurbakhsh, CEO of the fund.
This is while deficit had grown by 15 during the 9th and 10th administrations (2005-20013) to hit 600 trillion rials, the official noted, IRNA news agency reported March 5.
"The fund is paying 54 trillion rials to people it has under coverage, which is to say that it pays one third of its budget to the members," Nurbakhsh said.
"Right now we should have had 2 million people receiving pensions. But due to the early retirements of the 9th and 10th administrations, we are paying pensions to 3 million people."
At the end of the 10th administration there were 24,000 delayed cases with the fund, but now their number has reduced to 300," Nurbakhsh further said.