SSIF report sheds light on COVID mitigation measures

AMMAN — The Social Security Investment Fund (SSIF) on Tuesday said that it applied the comprehensive sustainable development in 2020 at more than one level despite economic hardships from the pandemic.

In its fourth sustainability report, the SSIF displayed the top procedures it implemented in 2020 to effectively deal with the unprecedented developments imposed by the pandemic at various economic and social sectors, according to a statement from the fund. 

The SSIF managed to achieve feasible returns under reasonable risk levels, which enabled the fund to mitigate the impact of the economic sectors’ performance drop on the performance of SSIF investments.  

The fund stressed its ability to achieve investment returns and increase the Social Security Corporation’s assets, in addition to enabling the corporation to launch several social protection programmes in response to economic challenges imposed by the pandemic. 

The report sheds light on SSIF’s most important pillars of the comprehensive institutional governance, SSIF’s institutional development efforts, enhancing the capabilities and skills of its employees and exchanging expertise with international pension funds. 

Issuing the report for the fourth consecutive year reflects the institutional commitment of the fund to sustainable development and its awareness to the importance of the role of its investments and works on the national economy, society and the environment, read the statement.  

The fund retained a good performance throughout the second quarter of 2021 as the total assets exceeded JD12 billion compared with JD11.2 billion at the end of 2020, marking a growth rate of 7.5 per cent.

The fund’s income also grew to JD313 million compared with JD251 million for the same period in 2020, representing an income growth of 24.5 per cent.