Dáil Éireann Debate, Tuesday - 20 June 2017
2047. Deputy Peter Burke asked the Minister for Social Protection the surplus deficit in the social insurance fund for each of the past ten years; and the accumulated surplus at the end of each of those years. [28102/17]
Amharc ar fhreagraThe information requested by the Deputy is provided in the following table.
It should be noted that the surplus/deficit reported in this table is the difference between the in-year income and expenditure of the fund. This differs from the concept of an actuarial surplus/deficit which compares the liabilities of a fund (to pay benefits, now and in the future, to eligible contributors) with the assets (cash and other investments) held by that fund. Actuarial reviews of the fund are conducted, in accordance with legislative requirements on a five yearly cycle. An actuarial review of the social insurance fund is currently underway and it is expected that the results of this review will be published in the autumn. In addition the fund does not carry a deficit from one year to the next, accordingly the fund is holding a cash surplus of €453m as at the end of 2016.
Social Insurance Financial Position, 2007 to 2016
|
Year |
Income |
Expenditure |
Surplus / Deficit |
Accumulated Surplus/Deficit at end of year |
|
€m |
€m |
€m |
€m |
|
|
2007 |
7,834 |
7,251 |
583 |
3,632 |
|
2008 |
8,144 |
8,400 |
-255 |
3,377 |
|
2009 |
7,280 |
9,784 |
-2,505 |
872 |
|
2010 |
6,710 |
9,461 |
-2,751 |
-1,879 |
|
2011 |
7,544 |
8,870 |
-1,460 |
-3,339 |
|
2012 |
6,781 |
8,632 |
-2,088 |
-5,427 |
|
2013 |
7,318 |
8,431 |
-1,314 |
-6,741 |
|
2014 |
7,891 |
8,617 |
-540 |
-7,281 |
|
2015 |
8,498 |
8,764 |
-119 |
-7,400 |
|
2016 |
9,217 |
8,988 |
453 |
-6,947 |
