Dáil Éireann Debate, Thursday - 25 November 2010
164 Deputy Michael Ring asked the Minister for Social Protection the projected income for the social insurance fund for the remainder of this year and for 2011 and to compare this to the projected outgoings from this fund for those periods in tabular form; and if he will make a statement on the matter. [44553/10]
View answerThe projected income for the Social Insurance Fund and its projected outgoings for 2010 are set out in the table below.
|
2010 |
2010 |
|||
|
Estimate |
Estimated |
Outturn |
Variance |
|
|
€000 |
€000 |
€000 |
% |
|
|
SIF Income |
7,073,988 |
6,632,878 |
-441,110 |
-6.2% |
|
SIF expenditure on schemes & administration |
9,559,662 |
9,493,205 |
-66,457 |
-0.7% |
|
Current Year Operating Deficit |
2,485,674 |
2,860,327 |
374,653 |
15.1% |
|
Surplus carried forward from previous year |
934,226 |
891,543 |
-42,683 |
-4.6% |
|
Exchequer Subvention required from Vote 38 (Subhead X) |
1,551,448 |
1,968,784 |
417,336 |
26.9% |
As the income to the Social Insurance Fund will be less than its expected expenditure in 2010, a subvention is required to fund expenditure on schemes such as State Pension Contributory, Widow(er)'s Contributory Pension and Jobseeker's Benefit. The Exchequer Subvention in 2010 is expected to be almost €1,969 million. The estimates of Fund income and expenditure in 2011 is currently being finalised in the context of preparations for the forthcoming Budget and these will be announced on Budget Day, December 7 next.
