House passes social security law

The Lower House on Tuesday passed the Social Security Law after a lengthy debate and amendments to the draft to guarantee the rights of subscribers and pensioners. It said during a session chaired by Speaker Saad Hayel Srour and attended by Prime Minister Abdullah Ensour and cabinet ministers that the House was keen to safeguard the assets of the Social Security Corporation (SSC) and pledged support to it to manage the investment funds and have a tighter control over its own funds. Under the law, a new board will be formed that will be in charge of laying the general policy for the Social Security Investment Fund, draw up a general plan for investing the SSC funds and oversee the corporation's overall investment policy.