This balance corresponds to the difference between recognised revenue from non-financial transactions of 22.52 billion euros and recognised expenses of 19.79 billion euros.
Of the total volume of recognised revenue, 91.81% corresponds to the administrative entities and common services of the Social Security system while the remaining 8.19% corresponds to the Mutual Insurance Companies that collaborate with the Social Security authorities. 96.14% of the expenses were recognised by the administrative entities and the remaining 3.86% by the mutual insurance companies.
Revenue
National Insurance contributions amounted to 17.95 billion euros, which represents an increase of 3.95 percentage points on the same period last year as a result of a 4.55% rise in contributions from the employed and a 4.77% drop in contributions from the unemployed.
In terms of cash resources - the cash accounting term used to monitor the income and outgoings of cash monetary resources in the system - the rate of year-on-year growth for National Insurance contributions stands at 4.37%, compared with a rate of 2.71% in February 2016. Specifically, National Insurance contributions within the General Regime rose by 5.22%. This figure stood at 3.73% last year.
Current transfers amounted to 4.12 billion euros - down 2.17% on the accumulated figure to the same date in 2016. Revenue from assets amounted to 175.65 million euros - down 53.12% year-on-year. Taxes and other revenue amounted to 270.51 million euros, a year-on-year decrease of 4.82%.
Expenses
Economic benefits paid out to families and institutions amounted to 18.93 billion euros, a figure that represents 95% of total expenditure incurred by the system.
In a detailed analysis of the various contributory benefits, pensions (permanent disability, retirement, widowhood, orphanhood and those paid out to relatives) amount to 16.41 billion euros - up 3.53% on last year. The year-on-year rate for spending on contributory pensions, including the minimum supplementary pensions, stood at 3.2% in February 2017.
Benefits for maternity, paternity and pregnancy risk amounted to 339.89 million euros, representing a 1.58% year-on-year increase. Temporary Incapacity Benefits amounted to 339.15 million euros - up 1.22% on the same period in 2016.
As at 28 February, non-contributory pensions and benefits, including the minimum pension supplements, amounted to 1.78 billion euros, 0.13% down on the figure for last year. It should be noted that an increasingly smaller number of pensions require a supplement to reach the minimum pension threshold. This number has fallen by 1.2% in the last year. Of this amount, non-contributory pensions and minimum pension supplements were allocated 1.35 billion euros, while subsidies and other benefits were allocated 426.72 million euros, of which 415.4 million correspond to family benefits.
