JEA sets timetable for approval of retirement fund amendments

(File photo: Jordan News)
AMMAN — The Jordan Engineers Association (JEA) has set a timetable to begin legal proceedings for the approval of amendments to its retirement fund system, with the presentation of the amendments to the central commission scheduled for February 17.اضافة اعلان

Next month, the amendments will be brought before the association’s general commission, Addustour daily reported.

The JEA board recently completed its consultations to identify a means of addressing the retirement fund crisis, after extensive tours to all governorates of the Kingdom to meet with constituencies and association committees.

The fund is suffering from a financial deficit preventing it from fulfilling its obligations to 17,300 retirees — obligations that total JD4.8 million per month.

The JEA was able to complete disbursal of pensions for November in two installments, the most recent of which was disbursed this month. The association explained that these payments were due to the availability of liquid funds.

JEA President Ahmed Al-Zoubi stressed that the retirement fund is “secure”, with assets estimated at JD283 million — the difficulties it is facing, he said, are due to a liquidity crisis.

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