Los ingresos por cotizaciones a la Seguridad Social crecen un 7,7% interanual, hasta alcanzar los 40.262 millones de euros

Income from social security contributions recorded a 7.7% year-on-year increase in data accumulated in the first quarter of the year, reaching 40,262 million euros (2,893 million more than a year before).

The income corresponding to the Intergenerational Equity Mechanism, in force since January 1, 2023, registered an increase of 73.1%, reaching 832 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 9,696 million euros (48.3% more).

Overall, the Social Security accounts show a positive balance, as of March 31, 2024, of 550 million euros compared to the 196 million euros of negative balance obtained on the same date of the year 2022. These 550 million, equivalent to 0.04% of GDP, are the result of the difference between rights recognized by non-financial operations of 48,326 million euros, which show an increase of 10.5%, and recognized obligations of 47,776 million, which grow by 8.8% year-on-year.

For its part, the data up to the month of February (last data available) show a positive balance of 56 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 47,335 million euros, with an increase of 10.5% compared to the previous year, while payments show an increase of 9.2%, reaching 47,677 million euros.

Non-financial income

In these first three months of the year, social contributions amounted to 40,262 million euros, which represents an increase of 7.7% compared to the income of the same period of the financial year 2023 (2,893 million euros more).

This behavior is driven by the evolution of the contributions of employed people, which experience a year-on-year increase of 8.1%, to reach 37,848 million euros (2,821 million euros more).

In addition, unemployment contributions are estimated at €2,414 million, representing an increase of 3.1% (an increase of €72 million).

The transfers received by the Social Security amount to 7,637 million euros, with a year-on-year increase of 27.2%. The most significant item relates to transfers received from the State and Autonomous Agencies, totalling 6,477 million (30.8% more).

Non-financial expenses

On the expenditure side, financial benefits to families and institutions reached 45,019 million, 8.6% more than in the same period of 2023. This figure represents 94.2% of the total expenditure made in the Social Security system.

The largest item, $41,132 million, relates to pensions and contributory benefits, with an increase of 8.2 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 7.6% to 36,295 million euros, due to the increase in the number of pensioners (1.2%), 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 15.7% compared to the same period last year, reaching 3,587 million euros, while benefits for birth and child care, co-responsibility in infant care, risk during pregnancy and during natural breastfeeding and care for children affected by cancer or another disease amounted to 1,050 million (5.7% more).

Non-contributory pensions and benefits, including the minimum supplements to contributory pensions, reach 3,887 million euros, 13.2% 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 minimum supplements are allocated 2,371 million (7.6% more), and grants and other benefits 1,515 million (23.2% more), of which 1,381 million euros correspond to Minimum Vital Income and family benefits, 18.7% more than the previous year.