Income from Social Security contributions grew by 7.9% year-on-year

Income from Social Security contributions registered an increase of 7.9% year-on-year in the data accumulated in the first four months of this year, reaching 54,1 billion euro (4 billion more than a year before).

Income corresponding to the Intergenerational Equity Mechanism, in force since January 1, 2023, registered a year-on-year increase of 69.3%, reaching 1,1 billion euro.

If the data from the last year that was not affected by the pandemic, 2019, are taken as a reference, the increase in contributions is 13,3 billion euro (32.5% more).

As a whole, the Social Security accounts are practically balanced, with a negative balance, as of April 30, 2024, of 27 million euro compared to the 497 million euro of negative balance obtained on the same date in 2023.

For its part, the data up to the month of March (latest data available), show a positive balance of 1,4 billion euro for the Social Security Funds, in terms of National Accounting that includes, in addition to the system, the data of the Fund of Wage Guarantee (FOGASA) and the Spanish Public Employment Service (SEPE).

In cash terms, the system’s net collection reaches 63,3 billion euro, with an increase of 9.9% compared to the previous year, while payments show an increase of 9.5%, reaching 64,4 billion euro.