AMMAN — Director General of the
Social Security Corporation (SSC) Hazim Rahahleh has said that the amendments to the Social
Security Law were proposed to address insurance gaps, provide social protection
for the most vulnerable groups, support the financial sustainability of the
corporation, and accelerate the pace of inclusion of all workers in the Kingdom
under the social security umbrella, local news outlets reported.
اضافة اعلان
Speaking about the
financial position of the corporation and future financial prospects, Rahahleh
said that after reviewing the last five actuarial studies, it was assessed that
the corporation assets amount to about JD14 billion and are forecast to reach
JD28 billion in 2030.
Rahahleh’s
statements were made during a meeting Monday with members of the Coordination
Committee for Civil Society Organizations (Himam) at the general administration
of the corporation to discuss issues related to social security and the
proposed amendments to the law.
Rahahleh indicated
that the insurance surplus that was transferred to the Social Security
Investment Fund amounted to JD1.7 billion during the last five years, and that
JD255 million had been transferred to the fund since the beginning of 2022.
He stressed that
the corporation has finished digitizing its electronic services, thus saving
time and effort for service recipients. He added that the corporation now
provides special services, including an air ambulance service, electronic
archiving of documents and data, an electronic payment gateway (DAMAN PAY) and
an IBANK service, in addition to having introduced a program to support the
operational costs of nurseries.
Rahahleh reviewed
the most prominent features of the proposed amendments to the Social Security
Law, indicating that early retirement poses a challenge to the corporation and
has become the norm, while old age retirement has become the exception. Funds
collected from current pensioners amounted to JD3.5 billion, while funds
disbursed to them to date amount to JD9.4 billion, he said.
One of the proposed
amendments to the Social Security Law is to create a social solidarity account
that contributes to covering the university tuition of the children of the
insured and retired; it would also contribute to financing the marriage
expenses of those financially unable to do so, he added.
Regarding the
sources of financing for this account, Rahahleh said that one will be monthly
deductions from subscribers and retirees at the rate of JD1 per month if the
monthly wage or pension is less than JD1,000, and JD2 from each subscriber and
retiree whose wage or salary is JD1,000 or more. He added that if the amendment
is approved, the social solidarity account will start providing support for
education costs starting with the 2023–2024 academic year.
Rahahleh pointed
out that the health insurance that the corporation intends to introduce will
provide quality health care services and will improve the health sector system
in the Kingdom.
He said that the proposed amendments will include revision
of the annual increase in inflation, which would be calculated based on the
average rate of inflation and wage growth rates, thus enabling early retirees
to cope with annual inflation increases.
Read more Business
Jordan News
.jpg)
.jpg)
