Iran plans to increase the pensions of 38 percentage

Tehran 19th August : Iran is planning to raise pensions by 38% in order to help offset the rising cost of living and the high rate of inflationThe change is scheduled to be in effect by the close of August according to the Social Security Association, as reported by the the news agency dpa.

Today, the majority of pensioners get the equivalent of just the equivalent of a few hundred dollars which is not enough to live in urban environments.The thousands of pensioners who are suffering from the economic crisis have lobbied for higher payments in the last few months and also for help due to the soaring rate of inflation.

Iran is in the middle of an economic crisis that is severe and prices for food have increased significantly in the past few months.The worth of the currency has dropped to more than 50 percent in recent times.

But, there are some cautious expectations that a revival of the 2015 Vienna nuclear deal could result in the end of sanctions against Iran that would help end the financial crisis.The Joint Comprehensive Plan of Action was designed to stop Tehran from developing nuclear weapons was first put in force in 2015.

In 2018 , the US under the presidency of President Donald Trump, decided to unilaterally withdraw from the agreement.In the course of a diplomatic tour that included representatives from the US and Iran and other nations, had been looking to renew the accord in the past few months.

A potential deal could result in the lifting of US sanctions as well as the reinstatement of restrictions on Irans nuclear program, similar to the 2015 agreement.