September 25 2022 11:37 AM E-paper Subscribe Sign in My Account Sign out

SSC funds not at dangerous level ‘at present’ — director

Director of the Social Security Cooperation (SSC) Hazem Al-Rahahleh said on Tuesday, at present, the SSC’s funds are not in danger, stressing however that measures must be taken to ensure that the st
Director of the Social Security Cooperation (SSC) Hazem Al-Rahahleh said on Tuesday, at present, the SSC’s funds are not in danger, stressing however that measures must be taken to ensure that the stability of the cooperation remains sustainable. (Photo: Jordan News)
AMMAN — Director of the Social Security Cooperation (SSC) Hazem Al-Rahahleh said, at present, the SSC’s funds are not in danger, stressing however that measures must be taken to ensure that the stability of the cooperation remains sustainable.اضافة اعلان

During a dialogue session, held by Abdul Hamid Shoman Foundation under the title “Are the Security’s funds in danger?”, Rahahleh said that the heaviest burden facing the SSC is the salaries of early retirees, noting that a significant portion of early retirees receive pensions exceeding their payments made throughout their employment, even with investment returns.

“Ultimately, the next generation will carry the burden of this generation’s pensions,” Rahahleh added, calling for reconsidering early retirement incentives.

He indicated that the Kingdom is witnessing a drop in both births and deaths, which will affect the country’s demographics, where the number of senior citizens will rise compared to that of youth, exacerbating the already low economic participation.

According to the director, the SSC’s assets are expected to reach JD15 billion in 2025, and will grow to an estimated JD30 billion in 2030.

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