Al-Ghad newspaper reported that the cabinet approved in its meeting held last Wednesday the system of pension fund for members of the teachers’ syndicate for 2019.
The system aims to enable the teachers syndicate to play a role in providing a decent life for teachers and their families in case of retirement, disability, or death by creating an optional mechanism for members of the syndicate through the formation of a pension fund that would provide the members with pension and compensation.
The cabinet decided to approve the reasons for the draft amended system of the housing fund for the employees of the Ministry of Education of 2019 and decided to send it to the legislative authority for approval as appropriate.
Following this system, the monthly premiums collected from the borrowers are included in the financial resources of the fund and in case of the transfer of the participant to another department, his/her membership will be cancelled, where only the retirees can withdraw.
This system aims at obtaining the approval on the monthly instalment deduction from the pension and that the candidates would be allowed to obtain loans from banks, in case of keeping the mortgage lien.
#Jordan #retirement #regulations #teachers
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