Vol. 528 No. 2
39 Mr. McGrath asked the Minister for Social, Community and Family Affairs if he will detail the income into the social insurance fund in 1999; the projected income for 2000; the expenditure by his Department from this fund; and his proposals for dealing with the surplus. [29693/00]
The total income of the social insurance fund in 1999 was £2.49 billion and it is projected that total income in 2000 will be around £2.94 billion. Expenditure from the fund amounted to £2.22 billion in 1999 and expenditure in 2000 is projected to be around £2.60 billion.
As the Deputy is aware, the social insurance fund is in a healthy financial situation at the moment. This is due to increased levels of employment, lower levels of unemployment and the buoyant economic climate generally. The surplus is retained in the fund's investment account. This surplus will not continue indefinitely as ageing of the population will greatly increase demands on the fund over the medium to long-term. Clearly, it is important that the fund's surplus should be used to best advantage having regard to emerging demands and the overall interest of its contributors. As announced recently, the Minister for Finance and I are arranging to have an early examination of possible strategies in this regard.
