SSIF chairman: Social Security Law amendments will not impact Fund’s investment strategy

SSIF assets rise from JD1.6 billion in 2003 to JD18.6 billion by end of 2025
Accumulative investment profits reach JD10.8 billion, surpassing JD6.2 billion in cash surpluses from SSC
Investment rate of return rises to 13.5% in 2025, following 10% in previous two years

Proposed amendments to the Social Security Law are intended to strengthen the insurance framework of the system and will not affect the investment strategy or performance of the Social Security Investment Fund (SSIF), Chairman of the Investment Board Omar Malhas said on Sunday.
Speaking in a televised interview, Malhas said that investment decisions remain institutionally independent and are guided solely by professional asset-management principles within a well-established governance framework, adding that the Fund’s role in the draft legislation is limited to organisational provisions aimed at enhancing institutional governance and operational independence.
The Fund’s asset base has expanded steadily, growing from JD1.6 billion at the start of operations in 2003 to approximately JD18.6 billion by the end of 2025, the Jordan News Agency, Petra, reported.
The increase has been driven primarily by cumulative investment profits totalling JD10.8 billion, compared with roughly JD6.2 billion in cash surpluses transferred from the Social Security Corporation since inception, he added.
Malhas also noted that the SSIF allocates capital across six core portfolios: money market instruments, bonds, loans, equities, real estate and tourism investments, reflecting a long-term allocation strategy designed to balance return generation with prudent risk management. Investment rate of return reached 13.5 per cent in 2025, following 10 per cent over the previous two years and an average of 8.5 per cent over the past five years.
Fixed-income securities remain the cornerstone of the Fund’s portfolio. Bond holdings stand at JD10.3 billion, representing 55.6 per cent of total assets and generating cumulative returns of approximately JD4.9 billion.
Malhas reiterated the government’s consistent servicing of bond interest payments and repayment of principal at maturity in accordance with scheduled obligations.
He said that this allocation reflects established global pension fund practices, whereby a portion of assets is invested in lower-risk instruments that generate stable and predictable cash flows, strengthening portfolio resilience while enabling expansion into long-term strategic investments with direct economic impact.
The equity portfolio totals approximately JD3.6 billion, with cumulative returns of JD4.2 billion, while real estate investments stand at around JD1.1 billion, producing cumulative returns nearing JD340 million, including a valuation increase of roughly JD290 million above acquisition cost.
"With investments spanning most sectors of the economy across all governorates, the Fund has become the country’s largest financial institution by assets under management."
Malhas said SSIF is expanding participation in strategic national projects aligned with the Economic Modernisation Vision, including the National Water Carrier Project, while evaluating opportunities in mining, railway infrastructure and the Risha gas pipeline.
The Fund operates within a multilayered oversight framework that includes internal governance committees, the Audit Bureau and an external auditor, alongside statutory quarterly reporting to the Council of Ministers and Parliament. Financial statements and performance disclosures are published regularly through the Fund’s official website.
Malhas said contributors’ and retirees’ assets are managed in accordance with international investment standards and best practices, adding that the Fund’s investment approach centres on responsible long-term capital management that combines financial stability with sustainable growth, reinforcing institutional confidence and consolidating its role as a long-term national investor supporting economic resilience.