The information requested by the Deputy is provided in the following table:
Year
|
Income
|
Expenditure
|
Surplus / Deficit
|
As % of expenditure
|
|
€000
|
€000
|
€000
|
|
2007
|
7,834,147
|
7,250,990
|
583,157
|
8.0%
|
2008
|
8,144,410
|
8,399,739
|
-255,329
|
-3.0%
|
2009
|
7,297,601
|
9,784,225
|
-2,486,624
|
-25.4%
|
2010
|
6,709,681
|
9,460,835
|
-2,751,154
|
-29.1%
|
2011
|
7,148,371
|
9,054,539
|
-1,906,168
|
-21.1%
|
The information shown in respect of 2007 to 2010, inclusive, is the out-turn for each year. The information shown in respect of 2011 is the Estimate published in the Revised Estimates Volume. From its inception, social insurance spending was funded on a tripartite basis, with contributions coming from employers, workers and the Exchequer. The Exchequer is the residual financier of the Social Insurance Fund and Exchequer contributions were the norm over 40 years. For example in 1967, the State contribution was 38% of fund expenditure and almost 29% in 1985. However, no Exchequer contributions were required between 1996 and 2009 as the Fund was in surplus on foot of contributions from employers and workers. The Social Insurance Fund has incurred an operating deficit each year since 2008. Total spending in 2008 exceeded total income in 2008 and that pattern has been repeated in subsequent years. This deficit was funded in 2008 and 2009 using the fund's cash reserves accumulated in the earlier years of operating surplus. The remaining balance of the accumulated surplus was fully depleted during 2010, with the shortfall in 2010 and again in 2011 being met by way of Exchequer subvention from Vote 38 in accordance with section 9 of the Social Welfare Consolidation Act 2005.