‘SSC losing JD100m annually in insurance evasion’

AMMAN — The Social Security Corporation (SSC) loses more than JD100 million annually because of insurance evasion, SCC Spokesperson Musa Sbeihi said Tuesday.

At a training programme organised by the Zarqa Chamber of Commerce, Sbeihi said the phenomenon is evident in the private and public sectors alike, the Jordan News Agency, Petra, reported.

The SCC’s expected revenues for 2015 are around JD1.274 billion and expenses are forecast to reach JD757 million, which will be reflected in the Social Security Investment Fund’s income, the corporation’s media director said.

Early retirees constitute 44 per cent of SSC pensioners, Sbeihi said, noting that the corporation paid JD59 million in pensions last month, with JD34 million going to early retirees, Petra reported.

According to SSC figures released earlier this year, 73,500 of the corporation’s 166,000 pensioners are early retirees.

Of the 12,000 individuals who retired in 2014, approximately two-thirds requested early retirement, Sbeihi said in previous remarks to The Jordan Times, noting that both male and female subscribers can ask for early retirement at the age of 45 if they have completed 25 years of subscription.

They can also request it at the age of 50, if they have been subscribed for 19 years.

A total of 1.112 million workers are active subscribers to the SSC, Sbeihi said on Tuesday, according to Petra.