Minister of Labor Khaled Al-Bakkar has warned that maintaining the Social Security Corporation (SSC) in its current state would lead to an inability to meet its financial obligations by the year 2050.
اضافة اعلان
Speaking during a session with the Parliamentary Labor Committee on Tuesday to discuss the Social Security Law, Al-Bakkar stated that the SSC's first break-even point is projected for 2030. He explained that between 2030 and 2035, the fund will face a financial deficit of approximately 500 million JOD, which will need to be covered by investment returns.
The Minister noted that the fund is expected to return to a state of stability after the year 2035.
Key Figures and Preparations
Al-Bakkar highlighted a critical sustainability metric, noting that currently, every 4.8 active subscribers fund the pension of one retiree. He further clarified that the government thoroughly analyzed 80 different scenarios regarding the social security system before presenting the current draft of the amended law.
