Be the first to comment!Expenditure on Social Security Benefits down by 3.1%
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According to figures from the National Statistics Office, expenditure on Social Security Benefits decreased by 3.1 per cent during the first half of 2011, mainly on account of lower expenditure on Pensions in respect of Retirement.
Total expenditure on Social Security Benefits amounted to €365.0 million during the first six months of 2011, down by €11.7 million over the corresponding period last year. This primarily reflected lower expenditure on Contributory Benefits amounting to €9.1 million. Concurrently Non-Contributory Benefits decreased by €2.6 million. The declines in both Contributory Benefits and Non-Contributory Benefits are attributed to an extra payment during the first half of 2010 compared to the corresponding period in 2011.
The decrease in Contributory Benefits was essentially the result of a €10.7 million decline in Pensions in respect of Retirement, which amounted to €170.2 million for the first six months this year. Pensions in respect of Invalidity decreased during the period under review by €1.4 million. Pensions in respect of Widowhood went up by €2.0 million, while the Contributory Bonus added €1.5 million.
Non-Contributory Benefits declined by €2.6 million over the comparative period last year. The decrease was mainly attributed to the €2.5 million decline in Social Assistance. The decline in Children’s Allowance was offset by increases in Old Age Pensions, Disability Pensions/ Allowance, Supplementary Assistance and the Non-Contributory Bonus.
Expenditure on Social Security Benefits during the second quarter amounted to €175.3 million, an increase of €6.0 million compared to the June quarter of 2010. This rise was brought about by an increase of €5.8 million in Contributory Benefits and €0.2 million in Non-Contributory Benefits. The increase in Contributory Benefits was driven up by the additional outlay of €4.4 million in the Two-thirds Pension. The increase in the Non- Contributory Benefits was mainly due to the rise in Social Assitance and Supplementary Assistance, €0.5 million and €0.2 million respectively. This increase was in part offset by a decline of €0.6 million registered under Children’s Allowance expenditure.
