Social Security: Reduction of Installment Interest on Amounts Due by Debtor Establishments
Amman2 min read
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The Board of Directors of the Public Institution for Social Security has decided to amend the decision to reduce the installment interest on amounts due by establishments, allowing establishments to benefit from additional advantages when making an initial payment of their debt, effective from the date of issuance until the end of 31/12/2026.
The institution clarified in a press release issued by its media center today that, under the new decision, if an establishment pays an initial payment of at least 25% of its total debt, the installment interest will be completely waived. Establishments that pay an initial payment of at least 20% but less than 25% will benefit from a reduction in the installment interest to 1%, and establishments that pay an initial payment of at least 15% but less than 20% will benefit from a reduction in the installment interest to 2%.
According to the decision, the institution will handle the installment of the debt for the period it deems appropriate, in accordance with the powers and periods specified under the system of coverage by the institution's insurance, taking into account the establishments' conditions and their ability to pay the amounts due.
The institution explained that the decision stipulates that these new advantages will be effective from the date of issuance until 31/12/2026, noting that this decision comes within the framework of the institution's keenness to support establishments and take into account their economic circumstances they face, and to enhance their ability to settle the amounts due.
The institution also explained in its statement that establishments that were unable to install the amounts due with a reduced installment interest according to the decision of its Board of Directors issued in July last, as a result of their benefiting twice from the decisions issued by the Board for the period from May 1, 2024, until the end of December 2025, can now benefit from this decision as long as they have not previously requested installment for three times.
