Khaberni - Minister of Labor Khaled Al-Bakkar explained the consequences of any individual withdrawing or halting their contributions regarding voluntary subscribers.
Al-Bakkar stated in his remarks that any person's withdrawal or cessation of contributions negatively impacts the Social Security Corporation.
It is noted that the government has amended the draft of the Social Security Law such that no one entitled to early, mandatory, or voluntary retirement will be affected at all during the next four years.
He clarified that the implementation of the law will begin in 2030 gradually and over the subsequent ten years until 2040 for mandatory retirement for both males and females, which means that it will not be fully implemented until 14 years after its enactment if it is approved this year.
He added that the implementation of early and voluntary retirement will also begin after 2030 gradually until 2047 for males and 2041 for females, meaning full implementation after 21 years for males and 15 years for females.
The Prime Minister clarified that the five-year difference, or 60 contributions, will be maintained between women and men in early retirement as it was before, and as it is also for mandatory retirement.
He emphasized that protecting the rights of citizens is a fundamental priority that must be fully considered.
He mentioned that the amendments came after consultations with parliamentary blocs, taking into account the observations received on the Legislation and Opinion Bureau's website from experts and citizens, in addition to deputies' comments.
He affirmed that the government is open to any suggestions for improving the draft law through parliamentary committees and their members, and it will cooperate fully with the parliament and its committees to achieve the main goal of protecting Social Security subscribers, not affecting their investments or profits, and relying exclusively on the income from contributions to be a solid base for the future of retirements and a sustainable foundation for them.
He pointed out that the draft law will maintain procedures to reinforce the governance of the Social Security Corporation and its restructuring, to be according to the model of the Central Bank of Jordan in terms of autonomy in decision-making.
