Compulsory Old Age Pension

Estimated Time:

Time of application

Location:

The Social Security Corporation/ the retirement building/ Mecca St.

Estimated Fee:

None 

1
  • Description
  • Procedures
  • Required Documents
  • Persons benefiting from the service
  • Files
  • Related Services

 

 

 

Conditions for obtaining service

The conditions of early retirement salary entitlement according to the provisions of law of the temporary Social Security no. (7) for 2010: retirement salary of the person, who completed the required early retirement subscription period according to the previous law (18 years for males and 15 years for females) before 1/1/2011, his salary is calculated according to the previous Social Security’s provisions of law, no. (19) for year 2001.

For those who didn’t complete the mentioned period before that date, new rules will be applied to them when they are entitled for this type of retirement, as per the following:

  1. Early retirement calculation factor has become as shown in table no. (5) attached with the social security law, in which factor is graded according to age. Age factors for ages (45 to less than 49):
  • (1.87%) for first (1500) JD of the average wage.
  •  (1.20%) for more than (1500) JD of the average wage.

             The factor increases gradually as the age increases, for example: the factor becomes (2%) of the average wage for those who retire early at age fifty. The factor increases for those who reach age fifty-five, (up to 2.17%) for males and (up to 2.5%) for females, this is for the first (1500) JD’s of the average wage, and (1.46%) for males and (2%) for females for more than (1500) JD’s of the average wage.

 

  1. Early retirement salary won’t be deducted by any percentage as it is per the previous law, noting the decrement in the salary calculation factor as mentioned before.
  2. The average wage- which is used to calculate the early retirement salary- is calculated, according to the new provisions law, based on the monthly wage average during the last 60 subscriptions.  
  3. A (20%) increments for three dependents (minimum 20 JD, and maximum 100 JD’s) are added to the early retirement salary as in the case of old age retirement salary.  
  4.   A deducted amount of money (40 JD’s) is added to the early retirement salary when a person completes old age, which is 60 for males and 55 for females.

Linking early the retirement salary with inflation starts when a person reaches old age (60 for males, and 55 for female).  

Notes

None 

 

 

 

 

 

 

 

 

 

 

 

Partner institutions:

None

Procedures

None

 

 

 

 

 

Required Documents

None

 

 

 

 

 

 

 

 

 

 

 

Persons benefiting from the service

Those who are insured and subjected to the terms and conditions of the early old age retirement

Files

No Found Files

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