Los ingresos por cotizaciones a la Seguridad Social crecen un 7,5% interanual, hasta alcanzar los 95.660 millones de euros

Income from social security contributions recorded a 7.5% year-on-year increase in data accumulated in the first seven months of this year, reaching 95.660 billion euros (6.661 billion more than a year before).

The income corresponding to the Intergenerational Equity Mechanism, in force since January 1, 2023, registered a year-on-year increase of 45%, reaching 2,122 million euros.

If you take as a reference the data of the last year that was not affected by the pandemic, 2019, the increase in contributions is 23,915 million euros (33.3% more).

As a whole, Social Security accounts show a positive balance, as of July 31, 2024, of 3.101 billion euros, which is the result of the difference between rights recognized for non-financial operations of 130.577 billion euros, which show an increase of 5.9%, and recognized obligations of 127,476 million euros, which grow by 7.5% year-on-year.

For its part, the data up to the month of June (last data available) show a positive balance of 3,674 million euros for the Social Security Funds, which include, in addition to the system, the data of the Salary Guarantee Fund (FOGASA) and the Spanish Public Employment Service (SEPE).

In terms of cash, the system’s liquid collection reaches €127,861 million, with an increase of 7.4% compared to the previous year, while payments show an increase of 7.6%, reaching €127,270 million.

Non-financial income

In these first seven months of the year, social contributions amounted to 95,660 million euros, which represents an increase of 7.5% compared to the income of the same period of the financial year 2023 (6,661 million euros more).

This behavior is driven by the evolution of the contributions of employed people, which experience a year-on-year increase of 7.8%, to reach 90.242 billion euros (6,543 million euros more than in the previous year).

In addition, unemployment contributions are estimated at 5,418 million euros, which represents a year-on-year increase of 2.2% (118 million euros in absolute terms).

The transfers received by the Social Security amount to 33,602 million euros, with a year-on-year increase of 3.9%. The most significant item is the transfers received from the State and Autonomous Agencies, which total 30.578 million (2.9% more). In particular, the increase has its origin, fundamentally, in a greater perception of funds to ensure compliance with the First Recommendation of the Toledo Pact (2,540 million euros more than in the same period of the previous year).

Non-financial expenses

On the expenditure side, financial benefits to families and institutions reached 119,854 million, 8.2% more than in the same period of 2023. This figure represents 94% of the total expenditure made on the Social Security system.

The largest item, $110,017 million, relates to pensions and contributory benefits, with an increase of 8.1 per cent.

In a detailed analysis of the contributory area, pension expenditure (permanent disability, retirement, widowhood, orphanhood, in favor of family members and contributory pension supplements for the reduction of the gender gap) is increased by 7.3% to 98.025 million euros, due to the increase in the number of pensioners (1.3%), the increase in the average pension (5%), as well as the general revaluation of 3.8% of contributory pensions in the financial year 2024.

With regard to temporary disability benefits, total expenditure increased by 17.8% compared to the same period of the previous year, to reach 9,066 million euros, while benefits for birth and child care, co-responsibility in the care of the infant, risk during pregnancy and during natural breastfeeding and care of minors affected by cancer or another disease amounted to 2,484 million (7.7% more).

Non-contributory pensions and benefits, including minimum contributory pension supplements, reached €9,837 million, 9.6% more than in the same period of the previous year. This increase is mainly due to the general revaluation of 6.9% established for the financial year 2024.

Of this amount, non-contributory pensions and supplements amounted to a minimum of 6,357 million (7.7% more), and grants and other benefits 3,480 million (13.1% more), of which 3,233 million euros correspond to Minimum Vital Income and family benefits, 10.9% more than the previous year.