andDr. O'Connell asked the Minister for Social Welfare the amount by which total income in the pay-related social fund has exceeded expenditure from the fund since its inception.
Written Answers. - Social Insurance Fund.
48.
There was not a separate fund for the pay-related benefit scheme and consequently there was no surplus as such arising from the operation of the scheme. In accordance with the provisions of section 5 of the Social Welfare (Pay-Related Benefit) Act, 1973, income from pay-related contributions amounting to £118.3 million for the period from 6 April 1974 to 5 April 1979 was paid into the social insurance fund and expenditure of £73.8 million on pay-related benefits including the cost of administration was paid out of the fund for that period.
The 3 per cent pay-related contribution no longer exists as it was subsumed in the fully pay-related contribution on its introduction in April 1979.