In recent years, the financial and economic situation of pension funds in the country has faced challenges due to severe fluctuations in the macroeconomic environment, resulting in deficits that have hindered their ability to meet obligations. Given the importance of financial performance stability in pension funds, the present study examines the impact of key macroeconomic variables such as economic growth rate, liquidity, inflation, exchange rate, interest rate, oil revenues, government budget deficit, and sanctions on the financial stability of pension funds and ranks them accordingly.To assess the status of the existing variables, a one-sample t-test was employed. To test the validity of the theoretical model and estimate the effect coefficients, the structural equation modeling (SEM) method was applied using PLS software. In order to prioritize the influential components, a questionnaire was designed and completed by 59 university professors, experts, and specialists in the capital market and pension funds in Gilan and Tehran, selected through purposive and snowball sampling. The results obtained were then analyzed using factor analysis. According to the experts, the findings reveal that the government budget deficit, with a standardized coefficient of (β = 0.858), exerts the greatest impact on the pension fund crisis, whereas international sanctions, with a standardized coefficient of (β = 0.639), have the least effect among the examined variables. Additionally, the coefficient of determination (R²) was calculated as 0.739, and the Goodness of Fit (GOF) index was 0.570, indicating a strong and highly satisfactory overall fit of the research model.The present study seeks to contribute to effective policymaking by examining and ranking the influential variables, thereby supporting the realization of the objectives outlined in Clause 3 of the General Policies of Social Security.