Pension Bill Up 6% in 5 Months

AMMAN —AlGhad— Jordan’s overall pension bill has increased by JOD30.9 million, approximately 6 per cent, in the first five months of the current year, from JOD516.5 million in the end of May 2017 to JOD547.4 million.

There are currently 344,933 retires on government pension as of May 2018, up 3 per cent from 334,684 in 2017.

Overall, the pension bill comprises of 17.3 per cent of the government’s current expenses, totalling at JOD3.15 billion, up 0.3 per cent from JOD2.92 billion in May 2017.

For years the government has been complaining of the growing pension bill, but has yet to devise a solution despite the suffocating financial crisis and the budget deficit.

Notably, the pension bill includes the retirement salaries for former ministers, which is slated for review, as Prime Minister Dr Omar Razzaz promised.

The pension bill has increased by JOD56 million, approximately 5 per cent, from 2017’s JOD1.253 billion.

Some 13 years ago, the treasury’s pension bill totalled at JOD345 million, overall, and has more than doubled since.

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