AMMAN —
Head of the
Jordan Medical Association (JMA) media committee Hazim Qarala said
that the association’s retirement fund faces a huge financial deficit due to
the decline in its monthly income, according to Saraya News.
اضافة اعلان
He said that the
pension fund’s monthly deficit ranges from JD500,000 to JD550,000, and pointed
out that its debt amounts to some JD26 million, while its assets are estimated
at JD53 million.
Qarala said that
the association used to pay pensions to certain groups, such as non-practicing
retirees and heirs, and this also contributed to the fund deficit, adding that
the policy was changed so that only half of the pension would be paid to all
retirees.
He added that the
number of retired doctors and their beneficiaries stands at 4,800, and the
monthly pensions due to them amount to about JD900,000, while the monthly
income of the fund from subscriptions ranges between JD340,000 and JD350,000.
According to
Qarala, another reason for the deficit is the wrong financial calculations on
which the fund was built, indicating that the monthly deductions from salaries
are completely disproportionate.
“The Social
Security Corporation deducts 21.5 percent from the basic salary, while in the
association deducts approximately 7.8 percent from the basic salary,” he said.
Another factor
that contributed to the deficit is weak investment, as the association’s
general assembly had limited investments to purchasing land only, he said,
adding that if the association continues on the current path, the fund will
face bankruptcy.
He said that
pensions for the current month were paid as usual, at half, but preparations
are under way to conduct a new actuarial study to radically resolve the fund’s
problem.
He said that one solution
that was suggested by a growing number of doctors is to make the subscription
by new doctors to the fund optional, especially in light of the
Social Security Law, in order to reduce the number of retirees and reduce the burden on the
fund in the future.
Read more Business
Jordan News
.jpg)
.jpg)
