Engineers association ‘working to secure liquidity for retirement fund’

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(File photo: Ameer Khalifeh/Jordan News)
AMMAN — As the Jordan Engineers Association’s retirement fund faces a liquidity crisis, association President Ahmed Al-Zoubi has confirmed that the board is endeavoring to make decisions that contribute to providing financial liquidity to support the fund, Al-Mamlaka TV reported.اضافة اعلان

In a press statement issued on Tuesday, Zoubi indicated that the board has conducted extensive tours to all governorates of the Kingdom to meet with constituencies and association committees, as well as sister committees abroad in Jerusalem, Hebron, and Nablus. Through these field tours, the association has arrived at a draft formula for proposed amendments to the Engineers Retirement Fund system.

Discussions regarding amendments to the retirement fund have focused on the principle of obligatory subscription, with the exception of the first five years immediately after graduation — whether the engineer works or not. The topic of making membership in the retirement fund similar to social security, linking it closely to work, was also discussed. In addition, talks determined that the amendments, if adopted, would not be applied retroactively, and each engineer could subscribe for past years under set terms and conditions.

During his meeting with the board of the association’s branch in Aqaba, Zoubi stressed that the fund is “secure”, with assets estimated at 283 million dinars — the difficulties it is facing, he said, are due to a liquidity crisis.

The association is planning to meet with former chairmen, advisory committees, the Jerusalem center, and other sister committees outside the Kingdom during the current week, and will set the soonest date possible to discuss outcomes of those meetings with the retirement fund’s general authority, the president stressed.

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