Increase in the number of employees and self-employed contributors
The CASS board of directors approved the financial statements for 2023, which reveal a good functioning of the country’s economy. During the past year, the number of employees increased by 3%, reaching a total of 48,888 on 31 December 2023. In addition, there was a 4.9% increase in the number of contributors per account own, with a total of 8,386 in the month of December.
Income and expenses of the general branch
This increase in the number of workers and freelancers has a direct impact on the income of the general branch of the CASS. Contributions from employees and the self-employed generated income of 154.1 million euros, while contributions from economic benefits brought in 16.3 million euros. In total, the income from contributions for this branch reached 170.4 million euros, with an increase of 12.7% compared to the previous year.
On the other hand, the expenses of the general branch increased by 7.9% compared to the previous year, reaching 196.3 million euros. These expenses were distributed in 128 million for health benefits and 68.3 million for economic benefits such as sick leave, disability pensions and orphan’s pensions.
Negative result of the general branch
As a result of these revenues and expenses, the general branch of the CASS presented a negative result of 25.9 million euros.
Retirement branch surplus
On the other hand, the retirement branch recorded a surplus of 35 million euros.
Other relevant data
The CASS statement also highlights other important data. The number of indirectly insured persons increased by 5.4% during 2023, reaching a total of 18,107 people. On the other hand, the number of pensioners in charge of the general branch decreased by 2.4%, with a total of 2,583 pensioners in December. This figure includes 2,251 invalidity pensioners, 331 orphan pensioners and 1 pensioner with a reversionary pension.
Regarding the old-age branch, income from contributions was recorded at 176.9 million euros, while expenses reached 153.5 million euros. This resulted in a surplus of 35 million euros for this branch.
Dependency rate
The dependency ratio for the month of December 2023 was 3.31 active insured persons for each pensioner in the retirement branch, a figure slightly lower than that of December 2022.
