Khaberni - The Economic and Social Council announced the results of the national dialogue on what the Social Security Law needs in terms of amendments in light of the findings of the 11th actuarial study, which was recently revealed by the Social Security Corporation assessing its financial position and ensuring its insurance sustainability in the long term.
Regarding the recommendations related to the sustainability of “Social Security,” Dr. Musa Shitiwi, the council president, said that the dialogue recommended expanding the insurance coverage, regulating early retirement to make it an exception and increasing the minimum period of actual subscription to qualify for it, and narrowing the gap between the age of early retirement and the old-age retirement according to an equation that reflects the true actuarial cost, according to Al-Ghad.
He continued, adding to the recommendation by gradually raising the retirement age for old-age, setting the maximum limit to 63 years for males and 58 years for females, and offering incentives to encourage participants to continue working in the labor market.
He pointed out that the recommendations related to the sustainability of “Social Security,” emphasized the need to reduce insurance evasion, enhance compliance and develop the investment strategy of the Social Security investment fund.
The Importance of Addressing All Recommendations
The council emphasized the importance of dealing with all the recommendations reached by the national dialogue as an integrated system that might require gradual implementation, and that might necessitate a re-evaluation of some related legislations, stressing the need to maintain the benefits and rights stipulated by the current Social Security Law for those who met the qualifying conditions before the enactment of the amended law.
Dr. Shitiwi said at a press conference yesterday that the council conducted a series of in-depth national dialogues with 9 groups representing all parties concerned with social security issues, including political parties, employers, labor and professional unions, the Press Association, civil society organizations, research centers, academics, experts, and the five parliamentary political blocs, adding that representation of women and youth was included in all participating categories, and the council received about ten papers and recommendations from experts, research centers, and parties.
He explained that the national dialogue aims to form a shared national understanding of the financial reality of the Social Security Corporation, envision its future prospects, and provide a broad national platform for discussion that reflects a diversity of viewpoints, and the dialogues contributed to shaping balanced reform approaches, based on the indicators of the 11th actuarial study and the challenges it revealed in terms of insurance and financial issues.
He noted that the dialogue concluded with the formulation of practical recommendations that are in line with the directives of His Majesty King Abdullah II, through the economic modernization vision in building a social protection system, which is reflected in the government's executive program for the years 2026-2029 in the path of social protection.
He confirmed that participants in the dialogue from all categories showed great care and a high national sense of the financial sustainability of the Social Security Corporation, emphasiz...
