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EghtesadOnline: Of the 20 funds paying pension to retirees in Iran, 18 are bankrupt, a member of Majlis Social Commission said.

Rasoul Khezri added that all the pension providers in Iran are in a state of bankruptcy, with the exception of Social Security Fund and, to some extent, the Central Bank Pension Fund, ICCIMA’s news portal reported.

Considering the problems of retirement funds as one of the main challenges facing the country, the official added that the current insurance purchaser/pension seeker ratio is 5.6, even 2 for some funds, whereas the desired ratio for a functioning fund is 6.5.

Majlis Social Commission has introduced a plan focusing on increasing the gains of pension providers by obligating them to invest their money in lucrative markets, such as the stock market, Financial Tribune reported.

 

Iran pension funds Majlis Social Commission