Sun. Mar 24th, 2019

The Government will inject 15,000 million to pay pensions

The Government will inject 15,000 million to pay pensions


The State will make a loan of 15,164 million euros to the Social Security to pay pensions. The measure is included in the draft General State Budgets for 2019, presented today at the Congress of Deputies. With this injection, the same amount as last year, the Government seeks to "maintain the balance of the accounts of the system until a consensus is reached within the framework of the Toledo Pact." In addition, given the insufficiencies of financing contributory pensions, Social Security contemplates resorting to the pension fund.

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The State estimates a non-financial income of the Social Security for this year of 140,256 million euros, an increase of 7% with respect to the previous accounts. The majority of these revenues (specifically, 77.1%) will come from social contributions that, supported by the rise in the Minimum Interprofessional Salary (SMI) to 900 euros, are expected to increase by 7.5% to 123.584 million of euros.

The increase in social contributions is also supported by the increase in the rate of contribution of the self-employed, which rises to 30%, including the mandatory contribution for professional contingencies and for cessation of activity. The extension of the unemployment subsidy to workers between 52 and 55 years and the increase of the minimum contribution base from 100% to 125% will also influence.

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