SSO Rewriting Pension Rules

SSO Rewriting Pension RulesSSO Rewriting Pension Rules

Pension calculation provisions are undergoing revision to prevent irregularities, said Mohammad Hassan Zada, technical deputy for income affairs at the Social Security Organization (SSO), reports ISNA.

The existing rules have led to widespread corruption since many people have received undeserving pension slabs after “encroaching upon regulations.” There were others too who incurred a loss since their salary in the penultimate years was far less compared to what they received in the preceding years, he noted.

He pointed to the SSO laws for those working two jobs and said insurance premium is taken into account for one job only and serving in two jobs does not entail a higher pension amount. However, the SSO does consider the insurance premium paid for those working two jobs to calculate pension, only in the two years preceding retirement.

The SSO has come up with a new proposal by which points based on a time-table are granted to employees for their number of years of service. “In the end the accumulated points will define the amount of pension to be granted,” he added.

The proposal is awaiting parliament approval.