Amman, Feb 22 (Petra) - Chairman of the Board of the Social Security Investment Fund (SSIF) - Jordan, Omar Malhas, affirmed that the proposed amendments to the Social Security Law are not related to the SSIF's performance or its investment decisions, stressing that investment decisions enjoy full independence and are taken according to purely professional and investment-based principles within a clear institutional governance system.

Malhas explained during a television interview that the proposed amendments are related to the insurance component of the Social Security Law and aim to enhance its financial sustainability in line with actuarial studies, while the fund’s connection to the draft law is limited to organisational aspects related to developing the institutional structure and strengthening governance and independence.

He pointed out that the SSIF's performance is measured by its accumulated results over the long term, noting that the fund’s assets increased from JD1.6 billion when the fund began its operations in 2003 to about JD18.6 billion by the end of 2025.

He added that this growth in assets came as a result of accumulated investment profits amounting to JD10.8 billion, compared with approximately JD6.2 billion in cash surpluses transferred from the Social Security Corporation - Jordan since its establishment.

He indicated that the SSIF's investments are distributed across six main portfolios, including money market instruments, bonds, loans, equities, and real estate and tourism investments, achieving a balance between return and acceptable risk levels. The average return on the fund’s investments reached 13.5% in 2025, 10% over the past two years, and 8.5% over the last five years.

He noted that the bond portfolio constitutes the largest component of the fund’s assets, with a value of JD10.3 billion, representing 55.6% of the total investment portfolio, while its cumulative returns reached about JD4.9 billion. He stressed the government’s commitment to paying bond interest periodically and the nominal value upon maturity according to the scheduled dates.

He explained that the fund’s approach in this context is consistent with global practices of pension funds, which allocate part of their assets to investment instruments with stable returns and low risk levels, providing regular cash flows that enhance portfolio stability while allowing expansion into long-term strategic investments with direct economic impact.

He added that the equity portfolio amounted to about JD3.6 billion with cumulative returns reaching JD4.2 billion, while the real estate portfolio was valued at about JD1.1 billion with cumulative returns of nearly JD340 million, including a net increase over purchase cost of about JD290 million.

Malhas said SSIF is considered the largest financial institution in Jordan in terms of asset size, and its investments extend across most economic sectors and various governorates of the Kingdom. He added that the fund will strengthen its presence in several national strategic projects linked to the Economic Modernization Vision, including the National Water Carrier Project, in addition to studying investment opportunities in mining, railway and the Risha gas pipeline sectors, supporting economic growth and promoting long-term investments with direct impact.

He stressed that the fund’s operations are subject to a comprehensive oversight ecosystem that includes internal governance committees, the Audit Bureau and external auditors, in addition to submitting quarterly reports to the Cabinet and the Parliament in accordance with the provisions of the Social Security Law, while publishing financial data and performance reports periodically through the fund’s website.

Malhas emphasized that the funds of contributors and retirees are managed according to professional standards and best global investment practices, affirming that the approach adopted by the fund is based on responsible and balanced investment management that combines financial stability and sustainable growth, strengthening institutional confidence and consolidating the fund’s role as a long-term national investor.

//Petra// AF