Social security fund revenues below target

Social security fund revenues showed a significant shortfall in the first four months of the year, according to data presented on Monday in Parliament by Alternate Minister for Social Security Dimitris Stratoulis. Compared with the original calculations, the revenues of the pension funds were trailing their target by 368 million euros at the end of April.

The total revenues of the social security entities amounted to 11.24 billion euros in the January-April period, against a target for 11.61 billion. Less than a third of the revenues, or 3.648 billion euros, came from social security contribution payments, just above the state budget contribution, which came to 3.437 billion in the first four months of the year.

The revenues also included 307 million euros from the settlement of old debts: Revenues from debt repayments amounted to 71 million euros in January, 64 million in February, 70 million in March and 102 million euros in April.

On the expenditure front, social security funds spent a total of 11.55 billion euros in the year to end-April, against a target for 11.84 billion euros.