Jordan Amends Social Security Draft Law, Delaying Full Implementation

Alanbatnews -

AMMAN - Jordan's government has revised a draft social security law, ensuring that current early, mandatory, and voluntary retirees will not be affected for the next four years, Prime Minister Bisher Al-Khasawneh announced on Tuesday.

The law's implementation will begin gradually in 2030, extending over ten years until 2040 for mandatory retirement for both men and women. This means the law will not be fully implemented until 14 years after its enactment, assuming it is approved this year.

The application of early and voluntary retirement provisions will also commence gradually after 2030, stretching until 2047 for men and 2041 for women. Full implementation for early and voluntary retirement will occur after 21 years for men and 15 years for women.

The five-year difference, or 60 contributions, between women and men in early retirement will remain, as will the case for mandatory retirement.

Prime Minister Al-Khasawneh emphasized that protecting citizens' rights is a fundamental priority. The amendments followed consultations with parliamentary blocs and consideration of feedback from experts and citizens via the Legislation and Opinion Bureau website, as well as comments from members of parliament.

The government remains open to suggestions for improving the draft law through parliamentary committees and members. Al-Khasawneh stressed full cooperation with parliament and its committees to protect social security subscribers, safeguard investments and profits, and rely exclusively on contribution income to secure the future of pensions and ensure their sustainability.

The draft law will maintain measures to strengthen the governance and restructuring of the Social Security Corporation, aligning it with the Central Bank of Jordan's model in terms of decision-making independence.