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Decrease in social security expenditure
Expenditure on social security benefits decreased by 8.6% during the first quarter this year, mainly on account of lower expenditure on retirement pensions.
Between January-March 2011, total expenditure on social security benefits amounted to €189.7 million during the first three months of 2011, down by €17.8 million over the corresponding period last year.
This reflected lower expenditure on contributory benefits amounting to €14.9 million, mainly in retirement and invalidity pensions, and social assistance.
Concurrently non-contributory benefits decreased by €2.8 million. The declines are attributed to the fact that during the first quarter there were three cash payments compared to four last year.
The decrease in contributory benefits was essentially the result of a €16.5 million drop in pensions in respect of retirement, which amounted to €82.4 million during the first quarter.
Invalidity pensions declined by €0.7 million during the period under review. Pensions in respect of widowhood went up by €1.4 million while the contributory bonus increased by €1.2 million.
Non-contributory benefits went down by €2.8 million over the comparative period in 2010. This decrease is attributed to a €3.0 million drop in social assistance expenditure.
