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Engineers Association approves amendments to pension fund

By JT - Apr 09,2017 - Last updated at Apr 09,2017

AMMAN — The Jordan Engineers Association's (JEA) central authority on Saturday approved the amendments to the pension fund system during an extraordinary meeting, a JEA statement said.

The amendment proposed by the JEA Council, approved earlier by the general assembly, aims to delay the third breakeven point at which the fund’s expenditure equals its income from pension subscriptions and investment profits from 2028 to 2041, the statement said.

JEA President Majid Tabba said that the amendments come in light of demographic changes, the increase in members of the association, the change in the purchase value of the Jordanian dinar, and the increase in female engineers, all of which required the amendments to preserve the fund's long-term stability. 

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