SSC achieves JD611m surplus in 2017
AMMAN — The Social Security Corporation (SSC) in 2017 achieved a surplus in subscription insurance that amounted to JD611 million, while insurance expenditure stood at JD965 million, SSC spokesperson Musa Sbeihi said on Wednesday.
During a visit to SSC Salt branch, Sbeihi said the corporation expects the subscription insurance to achieve a surplus of JD645 million in 2018, the Jordan News Agency, Petra, reported.
He added that the value of the SSC’s investment portfolio stood by the end of 2017 at JD9.239 billion, compared with JD8.325 billion by the end of 2016, marking an 11 per cent increase of JD914 million.
SSC investments in 2017 generated an income of JD360 million, up by JD44 million when compared with the 2016’s figure of JD315 million, marking a 14 per cent hike, Sbeihi added.
The spokesperson cited an SSC study indicating that retirement incomes contribute to limiting poverty in society by 7.7 per cent, noting that SSC pensioners total 213,000 people whose salary bills stood in March at JD82 million.