SSC financial status ‘reassuring’ — director general

AMMAN — Director General of the Social Security Corporation (SSC) Hazem Rahahleh on Wednesday said that the corporation’s financial status is "reassuring" and constantly growing. 

During a press conference at SSC headquarters, Rahahleh said that the results of a recent actuarial study, which included the implementation of defence orders, showed a delay in three break-even points, Al Mamlaka TV reported. 

The first point entails equal expenditures with insurance revenues, which moved from year 2034, from a previous study, to year 2039 in the latest study, he noted. 

The second break-even point, which entails equal expenditures with total revenue, including investment revenue, moved from year 2041 to year 2050, Rahahleh noted. 

The SSC director general said that the third point, which is the point of depletion of assets, moved from the year 2051 to the year 2061. 

He also noted that SSC assets will double by the end of the current decade to some JD28.3 billion.  

Rahahleh indicated that among the proposed amendments to the Social Security Law,  approved by the SSC board of directors, is the creation of solidarity accounts to help cover university study expenses for children of the insured and retired, and aid retirees who did not complete the number of required subscriptions, the Jordan News Agency, Petra, reported. 

He added that the draft law reconsidered the conditions of entitlement to the heirs, as this amendment will benefit 6,750 heirs as soon as this law is applied.

Rahahleh noted that the past 12 months witnessed an increase in the number of subscribers, reaching 120,000 new subscribers, which is the highest increase in the history of the corporation.

The number of voluntary subscribers witnessed a remarkable growth of more than 22 per cent. 

Subscriptions will include health insurance for workers in the private sector and retirees who do not enjoy health insurance as of the first quarter of next year.

Treatment will be offered in private hospitals, including cancer treatment, noting 1.2 million subscribers will be covered under this amendment.