El Gobierno aprueba la concesión de un préstamo de 6.981,6 millones de euros a la Seguridad Social
31/10/2022
Council of Ministers
The Government approves the granting of a loan of 6,981.6 million euros to Social Security
Topic:
- It is enshrined in the General Budget Act
- It is the youngest since the system began to be given loans, as a result of the financial crisis
- Provides adequate coverage for Social Security obligations
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The Government approved today at the meeting of the Council of Ministers the granting of a State loan to the General Treasury of Social Security in the amount of 6,981.6 million euros, with the aim of providing adequate coverage to the obligations of Social Security.
This was established in the third additional provision of Law 22/2021, of the General State Budgets for 2022. It’s an interest-free loan.
Social Security is financed from the resources of the system, mainly contributions from workers and companies.
In the months of June and November, Social Security jointly pays the ordinary and extraordinary payroll of pensions, an outlay that exceeds 21 billion euros. As in recent years, the granting of the loan made today ensures the timely payment of pensions and allows Social Security to plan well in advance the provision of the necessary resources to deal with these extraordinary disbursements.
The improvement in the financial situation of Social Security has meant that, for the first time since the loans to the system began after the financial crisis, the annual amount of the system has been less than 10 billion euros and has only required one loan, instead of the usual two, coinciding with the payment of the two extraordinary payments. In this sense, the 2021 loan, also included in the General Budget Law, amounted to 13,830 million euros.