During the first quarter this year, expenditure on Social Security Benefits increased by 1.9 per cent, mainly due to higher outlays on Pensions in Respect of Retirement and on the Contributory Bonus.

The figures issued by the National Statistics Office show that expenditure on Social Security Benefits amounted to €210.8 million in the first three months, a €3.9 million increase over the corresponding period last year. This was mostly attributed to a €3.1 million (or 2.0 per cent) increase in expenditure on Contributory Benefits. Furthermore, outlays on Non-Contributory Benefits rose by €0.8 million.

The rise in expenditure on Contributory Benefits was mainly due to significant increases recorded under Pensions in respect of Retirement (+€4.6 million) and Contributory Bonus (+€4.8 million). Other Benefits also went up by €0.2 million. On the other hand, a decline in expenditure was registered under Pensions in respect of Widowhood (-€6.4 million) and Benefits in respect of Industrial Injuries (-€0.1 million). Pensions in respect of Invalidity recorded a marginal increase.

Non-Contributory Benefits increased by 1.6 per cent when compared to the corresponding quarter in last year. A rise in expenditure was recorded under Social Assistance (+€0.7 million), Children’s Allowance (+€0.6 million), Non-Contributory Bonus and Old Age Pension (both by €0.3 million), and Disability Pensions/Allowance (+€0.2 million). Conversely, Medical Assistance declined by €1.3 million.

Permalink: Social Security Benefits increased by 1.9% in Q1 of 2013