Teachers welcome new pension fund for association members

AMMAN — Teachers have praised a government decision to establish a separate pension fund, apart from the social security system, for members of their association. 

The 2019 retirement fund by-law for the Jordanian Teacher’s Association (JTA) came into effect earlier this month after being published in the Official Gazette, and aims to provide members of the association with support after they retire or in the case of death, according to the JTA’s website.

“I totally agree with this by-law. Receiving another source of income during our retirement years will be good support for us and our family members,” physics teacher Asma Haddad told The Jordan Times. 

Head of the Private School Committee Abeer Akhras said that the retirement fund by-law was suggested four years ago and came into effect earlier this month after going through the legislative process.

”I highly support this by-law and recommend teachers subscribe to this fund, as it guarantees benefits at retirement,” Akhras said over the phone, adding that she was glad the fund finally received legislative approval.

The by-law stipulates that subscription to the fund is optional; however, subscribers are required to be members of the association, to pay all their financial obligations and not be above 50 years of age when applying for membership, according to excerpts of the Official Gazette on the JTA’s website. Subscribers also need to pay a first time payment of JD20 for membership.

“I think it is a good idea, especially for teachers who can afford a membership in this fund in addition to the social security system, so that they have more than one source of income,” said Dina Mahamdeh, an English teacher. 

Beneficiaries of the law are divided into three segments and five age groups. The monthly amount that each member pays into the fund and the pension they receive are specified accordingly.

Under the fund, a beneficiary is considered retired when a male teacher turns 60 years old and a female teacher turns 55 years old, according to the Official Gazette excerpts. 

Both men and women are also entitled to a compulsory old age pension when reaching the age of 65.