Malta. Pensions drive up social security spending that hits €322 million mark in first three months
Expenditure on social security benefits in the first three months totalled €322 million, an increase of €65.8 million over the same quarter last year.
The increase was almost all due to contributory expenditure, in particular pensions. The additional expenditure is five times higher than the increase in social security benefits in the first quarter between 2021 and 2020.
The National Statistics Office said contributory expenditure increased by €66 million, while non-contributory outlay fell marginally by €0.3 million.
Pensions in respect of retirement recorded the largest increase of €57.3 million, a result of two regular Two-Thirds Pension payments made in March 2022. Further increases were registered under Contributory Bonus (€6.2 million), pensions in respect of widowhood (€2.5 million) and other benefits (€0.2 million).
Between January and March 2022, €50.2 million went towards non-contributory benefits, a slight decline over the same quarter of the previous year. Age related pensions exhibited the largest drop at €2 million, with lower spending also reported on Disability Pensions/Allowance (-€1.3 million), Total In-Work Benefit (-€0.2 million), child allowance (-€0.2 million) and medical assistance (-€0.1 million).
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