Pension Bill Up 5% to JOD620m

تم نشره في Tue 8 August / Aug 2017. 12:00 AM
  • Ministry of Finance building in Amman - (Archives)

AMMAN —AlGhad— The current expenses Pension Bill has increase by 5 per cent in the first 6 months of the year, H1-2017, roughly JOD29.7 million, from JOD590.8 million in H1-2016, to JOD620.5 million by the end of June, 2017.

As governments, one after the other, complain about the increasing pensions’ bill, no solutions have been devised to address the rising budget deficit.

By June, 2017, the count of pensioners increased by 3.3 per cent, from 323.8 thousand in June, 2016, to 334.7 thousand.

In total, the pensions bill comprises 18.4 per cent of the current expenses spending in H1-2017, at JOD3.37 billion, compared to 17.2 per cent, roughly JOD3.42 billion in H1-2016.

Notably, the government is considering raising retirement age for men and women in the public sector, from 60 and 55 to 60 and 65, respectively.

So far, no decision have been made in these regards.