The Civil Service Pension Organization (CSPO) is an independent legal entity under the Government of the Ministry of Social Welfare and Social Security, and is run as an insurance company. This organization is responsible for matters related to the retirement of Iranian civil servants. The regular military, law enforcement agencies, and Revolutionary Guard Corps of Islam, Iran's second major military organization, have their own pension system.
Iran does not regulate laws that support universal social protection, but in 1996, the Statistics Center of Iran estimated that over 73% of Iran's population is protected by social security. Membership in the social security system for all employees is mandatory.
Video Civil Servants Pension Organization
Beneficiaries
In 2012, CSPO has 1.1 million pensioners. CSPO's beneficiaries include:
- Civil servants covered by Government Services Legal Management.
- Members of the university faculty & amp; an institute of higher education employed as a teaching staff of tenure.
- Judges employed by the Office of Justice and the Department of Justice are protected by their respective rules and regulations.
- Diplomats of the Department of State are covered by their respective rules & amp; regulations.
- Mastering the municipal employees, not including the mayor.
- Contract employee from the executive branch requesting to be borne by the Public Servant Pension Fund.
- Self-employed (purchasing Road Department and Article 147 employees from the Fourth Development Plan.)
Maps Civil Servants Pension Organization
Funding
The pension system is based on a definite benefit that is a standard model (vs a defined contribution model). In 2012, CSPO has 1 million public employees contributing to the fund. The government also supports CSPO financially. Due to the reduced amount of resources collected by CSPO from public employees, the system now relies more on government resources.
In the future, the system will no longer depend on the government budget, and shift the focus to the system (which is funded by private parties). The pension system will have three main pillars such as:
- Social insurance,
- Social support,
- Complementary and additional retirement insurance.
Investment
The Civil Pension Fund Investment Company is the investment unit of CSPO. In 2012, the investment fund allocation is as follows:
- Chemical and petrochemical sectors: 31%,
- Oil and gas companies: 17% (eg Iranol and Pasargad)
- Transportation and communications: 11% (eg Iranian Islamic Delivery Line (IRISL), Aseman Airlines)
- Tourism (eg Iranian Tourism & Tourism Company.)
See also
- The Iranian government
- Ministry of Welfare and Social Security (Iran)
- Social Security Organization (Iran)
- Iranian labor law
- Health Care in Iran
- Bonyad
References
External links
- The Civil Service Pensions Organization - the official website
- US. Social Security Administration: Iranian entry (coverage details)
Source of the article : Wikipedia
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