Governance and Control Structure:

The Social Security Law defines the duties and powers of the Social Security Corporation Board of Directors that govern the investments of the Social Security Corporation that are managed by the Social Security Investment Fund.

The Social Security Corporation Board approves the general investment policy of the Social Security Corporation that aims at maximizing the market value of its assets, sets investment objectives, develops investment standard, mechanisms and determinates, approves the general investment plan in addition to approving  the annual budget.

The Social Security Corporation Board is chaired by the Minister of Labor and comprises: Director General of the ‎Social Security Corporation, Chief Executive Officer of the Social Security Investment Fund, the Deputy Governor of the Central Bank of Jordan for investment affairs, a representative of the Armed Forces and security apparatuses nominated by the Council of Ministers, two representatives of trade unions, nominated by heads of trade unions: one represents employers and the other represents professionals, four representatives of laborers that are nominated by the General Federation of Labor Associations and four representatives of employers: two are selected by Jordan Chamber of Industry and two are selected by Jordan Chamber of Commerce.

There are three committees emanating of the Social Security Corporation Board: Control Committee, Good Governance Committee and Overall Risk Management Committee. These committees fulfill the duties that are defined by the Law and the related Social Security Corporation Board resolutions. 

Then comes the Social  Security Investment Board that develops the general investment policy and general investment plan that are approved by the Social Security Corporation Board. It also oversees the implementation of the general investment policy and develops the plans and make the necessary invest decisions to implement the said policy.

There are three committees emanating of the Social Security Investment Board: Audit Committee, Investment Governance Committee, and Investment Risk Committee. These committees duties and powers are defined in the Social Security Investment Fund and Investment Board bylaw that is issued pursuant to the Social Security Law.

It’s worth mentioning that there are four members that sit on both boards: Director General of the ‎Social Security Corporation, Chief Executive Officer of the Social Security Investment Fund, Employees Representative and workers Representative. For governance purposes, the Chief Executive Officer of the Social Security Investment Fund is not a member in any of the committees emanating from Social Security the Investment Board.


Reporting System:

The Social Security Investment Board minutes of the meetings and resolutions are submitted to ‎Social Security Corporation ‎Board for acknowledgement. The Social Security Investment Fund also submits a follow up report to the ‎Social Security Corporation Board on the actions taken by the Social Security Investment Fund to execute those resolutions.‎

In addition, the Social Security Investment Fund also submits quarterly reports to the ‎Social Security Corporation Board, which in turn submits the reports to the Council of Ministers and the Parliament outlining the Social Security Investment Fund’s financial performance and ‎ investments.

It’s worth mentioning that under the enforced Social Security law, there are four members that sit on both Social Security Corporation Board and the Social Security Investment Board: Director General of the ‎Social Security Corporation, Chief Executive Officer of the Social Security Investment Fund, Employees Representative and Workers Representative.‎