In terms of budget performance, the Social Security system accounts posted a negative balance to September of 5.56 billion euros, equivalent to 0.52% of GDP.
This balance corresponds to the difference between recognised revenue from non-financial transactions of 94.68 billion euros (up 3.68%) and recognised expenses of 100.24 billion euros (up 6.15% in year-on-year terms).
Economic benefits paid out to families and institutions amounted to 90.86 billion euros, a figure that represents 90.63% of total expenditure incurred by the Social Security system.
Of the total volume of recognised revenue, 91.89% corresponds to the administrative entities and common services of the Social Security system while the remaining 8.11% corresponds to the collaborating Mutual Insurance Companies. 90.19% of the expenses were recognised by the administrative entities and the remaining 9.81% by the mutual insurance companies.
National Insurance contributions
National Insurance contributions (accounted for as recognised revenue) amounted to 75.27 billion euros, which represents an increase of 1.08 percentage points. There has been a 2.74% rise in contributions from the employed and a 14.82% drop in contributions from the unemployed.
As stated above, in terms of effective resources - the cash accounting term used to monitor the income and outgoings of cash monetary resources in the system - the rate of year-on-year growth for National Insurance contributions stands at 1.49%. This figure stood at 1.26% in this period of 2014.
Current transfers amounted to 13.46 billion euros - up 1.67% on the accumulated figure to the same date in 2014.
Revenue from assets amounted to 1.69 billion euros - down 15.53% year-on-year. Taxes and other revenue amounted to 855.63 million euros, a year-on-year decrease of 12.34%.
Social benefits
As stated above, the benefits paid out directly to families amounted to 90.86 billion euros, a figure that represents 90.63% of total expenditure incurred by the Social Security system.
Specifically, pensions (disability, retirement, widowhood, orphanhood and those paid out to relatives) amount to 77.09 billion euros - up 3.4%. Benefits for maternity, paternity and pregnancy risk rose to 1.6 billion euros, an increase of 1.54%. Temporary Incapacity Benefits amounted to 3.71 billion euros - up 12.57% on the same period of 2014.
As at 30 September, non-contributory pensions and benefits (including the supplements paid to minimum contributory pension holders) amounted to 8.13 billion euros: with 6.86 billion euros spent on non-contributory and minimum pensions, and 1.27 billion euros spent on subsidies and other benefits.
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