Jordan to implement new Social Security rules
The focus of the article is on the amended Social Security Law in Jordan, which is considered one of the most prominent legislative issues on the agenda of the Parliament in the upcoming session. The law aims to reform the pension and social insurance system by increasing contribution periods, regulating early retirement, gradually adjusting the retirement age, expanding the system's coverage, and improving the management of the Public Institution for Social Security to enhance its long-term financial sustainability. The discussion also emphasizes balancing the protection of retirees' and insured persons' rights with ensuring the institution's financial sustainability, taking into account demographic and financial developments and the potential impact of these reforms on current and future workers and retirees. The outcomes of these amendments will depend on the upcoming parliamentary discussions, especially with potential revisions by new committees. To safeguard rights and achieve financial sustainability, the results of the reforms are expected to become clearer after studying their financial and actuarial impacts. Nonetheless, early retirement and retirement age will remain among the most sensitive issues in future debates.
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