AMMAN —
Director General of the
Social Security Corporation (SSC) Hazem Al-Rahahleh
said that the proposed amendments to the Social Security Law will put an end to
early retirement, and make old-age retirement for men 62, up from 60 now, and
for women 59, up from 55, AmmanNet reported.
اضافة اعلان
Rahahleh stressed
that the proposed amendments to the law came after a series of dialogues
launched more than a year ago by the corporation, which covered most of the
Kingdom’s governorates and all stakeholders. He added that the SSC amendments,
to 47 articles out of 110, are meant to improve the social protection system,
make it more robust, and protect the low- and middle-income groups, while also
ensuring the financial sustainability of the corporation, to ensure that it
services future generations.
Rahahleh’s
statements were made Tuesday at a symposium hosted by the
Public Policy Forum,
attended by political, economic, academic, and parliamentary figures.
The proposed amendments will enable 50,000 early retirees to benefit from the annual increase associated with inflation.
Rahahleh
emphasized that the financial position of the SSC is reassuring. He pointed out
that the results of the studies conducted a month ago showed that the
break-even point, which is when SSC revenues are equal to its expenditures,
will be reached in 2039, instead of 2034, while a second break-even point will
occur in 2051, instead of 2041, when the last study showed that the third
break-even point will be reached in 2061.
He said that the
proposed amendments will enable 50,000 early retirees to benefit from the
annual increase associated with inflation as of the month of May, as part of
measures to protect low and middle-income retirees.
He added that the
amendments will benefit 18,000 retirees by increasing the minimum pension and
enabling more than 20,000 families of contributors and retirees to benefit from
the proposed social solidarity account to support higher education.
Rahahleh said that
the amendments stipulate an annual inflation increase to be calculated
according to the average inflation and wage growth rates, which will lead to a
higher increase in salaries than that stipulated in the current law.
He added that the pensions
of early retirees will also be linked to inflation, at a higher rate in the
case of those with minimum pensions.
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