Amman: Chairman of the Board of the Social Security Investment Fund (SSIF) in Jordan, Omar Malhas, has clarified that the proposed amendments to the Social Security Law are distinct from the SSIF's performance or investment decisions. Malhas emphasized that these decisions are made independently, guided by professional and investment-based principles under a structured governance system.
According to Jordan News Agency, Malhas elaborated in a television interview that the amendments pertain mainly to the insurance components of the Social Security Law, aiming at enhancing financial sustainability based on actuarial studies. The SSIF's involvement in the legislative changes is primarily linked to organizational aspects aimed at improving institutional structure and governance.
Malhas noted that the SSIF's performance is evaluated based on long-term results, highlighting the growth of the fund's assets from JD1.6 billion in 2003 to approximately JD18.6 billion by the end of 2025. This increase is attributed to accumulated investment profits of JD10.8 billion and JD6.2 billion in cash surpluses transferred from the Social Security Corporation since its inception.
He outlined that the SSIF's investments are diversified across six main portfolios, including money market instruments, bonds, loans, equities, and real estate and tourism investments. This diversification aims to balance return with acceptable risk levels. The fund's average return on investments was reported at 13.5% in 2025, with returns of 10% over the past two years and 8.5% over the last five years.
Malhas highlighted that bonds form the largest portion of the fund's assets, valued at JD10.3 billion and accounting for 55.6% of the total investment portfolio, with cumulative returns of about JD4.9 billion. He reassured that the government is committed to fulfilling bond interest payments and principal amounts upon maturity as scheduled.
He explained that the fund's strategy aligns with global pension fund practices, which invest in stable return instruments with low risk, ensuring regular cash flows for portfolio stability while allowing strategic investments with economic impacts.
The equity portfolio was valued at JD3.6 billion with cumulative returns of JD4.2 billion, while the real estate portfolio stood at JD1.1 billion with cumulative returns of approximately JD340 million, including a net increase over purchase cost of about JD290 million.
Malhas remarked that the SSIF is Jordan's largest financial institution by asset size, with investments spanning most economic sectors and governorates. The fund plans to enhance its involvement in national projects tied to the Economic Modernization Vision, such as the National Water Carrier Project, and is exploring opportunities in mining, railways, and the Risha gas pipeline, supporting economic growth and fostering long-term investments.
He emphasized the comprehensive oversight of the fund through internal governance, the Audit Bureau, external auditors, and regular reporting to the Cabinet and Parliament, in line with the Social Security Law. Financial data and performance reports are published on the fund's website.
Malhas assured that the fund manages contributors' and retirees' finances according to professional standards and global investment practices, underscoring a balanced investment approach that ensures financial stability and sustainable growth, thereby reinforcing institutional confidence and the fund's role as a long-term national investor.