Civil Servants Pension Organization

Civil Servants Pension Organization (CSPO) is an independent legal entity under the governance of the Ministry of Welfare and Social Security, and run as an insurance company. This organization is responsible for the affairs related to the retirement of Iran's civil servants.The regular military, law enforcement agencies, and the Islamic Revolutionary Guard Corps, Iran’s second major military organization, have their own pension systems.

Iran did not legislate in favor of a universal social protection, but in 1996, the Center of the Statistics of Iran estimated that more than 73% of the Iranian population was covered by social security. Membership in the social security system for all employees is compulsory.

In 2012, CSPO had 1.1 million pensioners. CSPO's beneficiaries include:

The pension systems is based on the defined benefit which is the standard model (vs the defined contribution model). In 2012, CSPO had 1 million public employees contributing to the fund. The government is also supporting financially the CSPO. Due to the reduced amount of resources CSPO gathers from public employees, the system now relies more on government resources.

In the future, the system will no longer rely on the government budget, and shift focus toward a (privately) funded system. The pension system will have three major pillars such as:

Civil Pension Fund Investment Company is the investment arm of CSPO. As of 2012, the fund’s investments allocation was as follows:

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