Monday, 25 March 2019

Social insurance revenues are record high in 2015

ČTK |
11 January 2016

Prague, Jan 8 (CTK) - The revenues from the social insurance payments reached the record high sum of 394.5 billion crowns in the Czech Republic in 2015, which is 21 billion more than in 2014, according to the data of the Czech Social Security Administration (CSSZ).
The higher revenues are the result of economic growth as more people have jobs and salaries have risen, too.
The social insurance includes the pension insurance, the sickness insurance and the contribution to pro-employment policy.
Last year, 379.1 billion crowns were paid in pension and sickness insurance, while 409.6 billion were paid out in pensions and sickness benefits. This resulted in a deficit of 30.5 billion crowns, which is nine billion lower than in 2014.
Until now, the most successful year was 2008 when 375.4 billion crowns were gained in social insurance payments. Due to the economic crisis, the revenues fell to 337.8 billion. They have been gradually increasing since then, yet the latest year-on-year 5.7 percent increase has been the steepest.
CSSZ spokeswoman Jana Buranova said the pension insurance account achieved its best result in the past five years in 2015, but it still had a deficit of 33.6 billion crowns: 385.5 billion were paid out in pensions and 351.9 billion were received in pension insurance payments.
In 2014, the pension account deficit was 43.4 billion crowns. In 2010 it was 29.3 billion and in 2011 it rose to 39.5 billion.
Last year, 3.1 billion crowns were added to the sickness insurance account. People´s insurance payments reached 27.2 billion, while 24.1 billion were paid out in sickness benefits and maternity leaves. However, the surplus of the account was higher in the previous years: 3.9 billion crowns in 2014 and 5.6 billion in 2012. In 2008, it was as much as 14.8 billion. During the economic crisis, the account had a deficit.
($1=24.873 crowns)

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