During the first three quarters, expenditure on Social Security Benefits advanced by 11.1 per cent over last year. This was mostly due to an increase in the outlay ‘Pensions in Respect of Retirement,’ the National Statistics Office said today.

The total amount spent on social security benefits in the first nine months this year was €623.7 million, a €62.5 million rise when compared to the corresponding figure in 2012. ‘Contributory Benefits’ expenditure increased by €41.8 million and Non-Contributory Benefits by €20.7 million.

The 9.7 per cent rise in Contributory Benefits was due to a €38.9 million increase in Pensions in respect of Retirement, resulting from a €39.8 million rise in Two-thirds Pension.

This increase in expenditure is associated with an extra payment, amounting to €27.3 million, which was given to retired pensioners in the first nine months of 2013, together with a rise in the number of retirement beneficiaries.

Further significant growths were also recorded for Contributory Bonus (+€5.5 million) and Other Benefits (+€1.1 million). On the other hand, Pensions in respect of Widowhood decreased by €4.0 million.

Non-Contributory Benefits spending totalled €152.5 million for the first nine months, a 15.7 per cent increase over the corresponding period in 2012. This rise in expenditure was largely due to a €9.3 million increase in Children’s Allowance and an €8.2 million increase in Social Assistance.

Furthermore, there were increases for Supplementary Assistance (+€1.8 million), Old Age Pension (+€1.0 million), Disability Pension/Allowance (+€0.8 million) and Non-Contributory Bonus (+€0.7 million). Medical Assistance (-€1.0 million) recorded a decline.

In the third quarter, Social Security Benefits amounted to €218.1 million. Both Contributory and Non-Contributory Benefits registered an increase in outlay, compared to the equivalent period in 2012, by €32.9 million and €14.5 million respectively.

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