Jordon boasts a robust economy, being globally labeled as an emerging market. As an up and coming economy in the Middle East, Jordan adopts a number of regimes and legislature that reflects the western world and modernization. The social security system of the country ensures that all insured employees are able to benefit from a number of allowances and funds, including old-age pension, maternity benefits and unemployment insurance.
The following is a brief guideline with regards to the social security program adopted in Jordan:
Old Age Pension
The 2010 social security law ensures that all employees over the age of 16 are able to avail public service benefits. In order to qualify for old-age pension, individual must be over the age of 60 (men) or 55 (women), with a minimum of 15 years of insurance and 7 years of paid contributions. There is a specific criterion that must be satisfied for those seeking early pension.
The old age pension is calculated according to the individual’s salary – 2.5% of their monthly earnings over the past 2 years are multiplied with the number of years that the contribution to the social security fund has been paid.
According to the 2010 social security law, all employees who are over the age of 16 are eligible for maternity benefits. Those working for public service or the government are exempted from maternity leave as their benefits are determined by the Board of Directors of the Social Security Corporation. This law applies for sickness allowances as well.
Those entitled to maternity benefits are able to avail cash benefits provided that they have been insured for a period of 9 months prior to the birth of their child. The cash benefits are equal to the amount of the female worker’s salary, and are paid for a period of 10 weeks.