Social Security recorded a deficit of 363 million euros during the first two months of the year, the equivalent of 0.02% of GDP, after entering 31.317 million euros over this period, or 7.5% moreagainst expenditure worth 31.680 million (+10% over one year), according to data published this Wednesday by the Ministry of Inclusion, Social Security and Migration.

In terms of cash, the net collection of the system reached 30.621 million euros, up 10.1% compared to the previous year, while payments showed an increase of 10.4%, reaching 31.515 million euros. euros.

This negative Social Security balance occurred despite the fact that the system until February he received 26.891 million euros in contributions, or 8.1% more than in the same period of 2023 (2,020 million more) and 33.8% more compared to 2019, the last year not affected by the pandemic.

Revenues from the Intergenerational Equity Mechanism (MEI), in force since January 2023, generated 543.04 million euros during the first two months of this year, double those of the same period in 2023.

There The increase in contribution income until February was driven by employee contributionswhich increased by 8.3% over one year, to 25.280 million euros, “thanks to the increase in Social Security affiliations”, while those of the unemployed increased by 5.2% (79 million euros more), to 1.610 million euros.

Transfers received by Social Security amounted to 4,096 million euros, up 2.4% over one year. The largest item corresponded to transfers received from the State and autonomous bodies, which amounted to 3.369 million (0.8% more).

On the side of expenditure, economic benefits for families and institutions reached 29.889 million, or 9.8% more than in the same period of 2023. This figure represented 94.3% of the total expenditure made in the social security system. The greatest game, 27,253 million correspond to pensions and contributory benefits, up 9.5%.

In a detailed analysis of the contributory area, expenditure on pensions (permanent disability, retirement, widowhood, orphan, for family members and contributory pension supplements to reduce the gender gap) increases by 8.4% to 24,022 million euros, due to the increase in the number of retirees (1.2%), the increase in the average pension (5%), as well as the general revaluation of 3.8% of pensions contributions during the 2024 financial year.

Regarding temporary disability benefits, total expenditure increased by 19.2% compared to the same period of the previous year, reaching 2.393 million euros, while birth and childcare benefits, co-responsibility for infant care, risks during pregnancy and breastfeeding – feeding and care of minors with cancer or other illness amounted to 707 million (13.1% more ).

THE non-contributory pensions and benefits, including minimum supplements for contributory pensions, reached 2,636 million euros, 13.7% more than the same period of the previous year. This increase is mainly explained by the general revaluation of 6.9% established for the 2024 financial year.

Data 2023

The ministry also made public this Wednesday the data from all 2023. Overall, the Social Security accounts present a negative balance of 8.627 million euros, or 0.59% of GDP. In cash terms, the liquid recovery of the system goes between energy and costs of 133,828 million euros, a 11.5% more, in contrast with a gas value of 133,461 million, a 9.8% more than in the current period Last year. Revenue from social contributions increased by 10.3% over the year, their highest rate since 2004, to reach 154.633 million euros.

By wbu4c

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