Retirement and Social Securities
Social Security Fund works on providing social security to the engineers and their families. In case of a death of a member paying his subscription and regardless of the subscription duration to the Association, an amount JD 5000 is paid immediately in addition to a monthly pension of JD 100. Subscription to the Fund is available for all Jordanian engineers and it is included in the Association annual fees.
We try to be the best alternative for the fellow members to benefit from the security and financing service package provided by the Retirement Fund so as to take the Jordanian Engineers Association to the top levels of which we all are ambition.
It is to manage and develop the Retirement Fund assets by providing the best services to the fellow members in the retirement and social security fields. We aim to secure a monthly pension out of several retirement categories to the retired engineers and their inheritors. Moreover, we aim at making the living basic requirements available for the fellow engineers in the housing area through facilitated and various installment programs in accordance with the Islamic Sharia provisions. Thus, we contribute to achieving sustainable national development and economic growth through a real interaction with the local community.
- To secure pensions to the fellow retirees and the inheritors of the late fellows.
- To grow up the Retirement Fund assets to ensure the fulfillment of the Fund’s pension liabilities on the long-term.
- To provide various investment service projects to the fellow members through facilitated installment programs that fulfill their demands.
- To secure an appropriate house for each fellow through land projects, apartments and construction materials.
|Pension value||JOD 200||JOD 280||JOD 400||JOD 600|
|Period (years)||Monthly installment value||Monthly installment value||Monthly installment value||Monthly installment value|
Social Solidarity Fund
In an attempt by the Association to provide the best services in relation to the concern in the living and social situations of the fellows and their families, the Social Solidarity Fund of Engineers was founded in 1999, and the Social Solidarity Regulation was made on 16.09.2008.
Fund Foundation Objectives and Goals
- To provide the subscribers to the Fund and their families with a social solidarity in accordance with the provisions of such instructions.
- To protect the members from being in need in case of permanent total disability.
- To protect the members’ families from being in need in case of a Fund member’s death.
The subscription to the Fund shall be optional for the fellows paying their annual subscription fees and meeting the following requirements:
1st: The member willing to subscribe may not be over 50 years old upon submitting the subscription application.
2nd: To be free of the diseases that prevent him from performing his job.
Upon submitting the application for subscribing to the Fund, the applicant shall be JOD 10 as a nonrefundable affiliation fee and JOD 200 as a subscription fee.
An amount will be deducted from each subscriber’s balance equal to the value of his contribution to the solidarity amount. If the subscriber’s balance goes below JOD 100, he will be notified via announcements in two daily local papers and at the Association’s website so as to cover his balance within one month of the announcement date.
In case of total permanent disability or death, subscribers or beneficiaries shall be entitled to a social solidarity amount up to JOD 50.000, and a formula was set for this purpose:
Number of subscribers * number of subscription months (maximum 50 months) * JOD 10 * 2%.
If a subscriber suffered a total permanent disability, the Regulation set a specific mechanism for granting him the due solidarity amount, as the due amount will be disbursed as 50 monthly payments, and in case of his death, the remaining amount will be disbursed to his inheritors.
The Regulation specified two cases in which a membership is lost
1st: if the subscriber’s balance kept going down to JD 25 and he fails to increase it back after the warning period has expired.
2nd: upon a written request made by the subscriber.
In such cases, the remaining balance of the subscriber who lost his membership shall be refunded after deducting JD 25 for administrative services.