Written answers
Tuesday, 3 April 2007
Department of Social and Family Affairs
Social Insurance
10:00 pm
Ruairi Quinn (Dublin South East, Labour)
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Question 450: To ask the Minister for Social and Family Affairs the amount in the Social Insurance Fund in respect of each year since 2002; the amount paid out; the surplus left in the fund; if an actuarial study of the Social Insurance Fund is currently under way; when it is expected to be completed; if the study will be published; and if he will make a statement on the matter. [12822/07]
Séamus Brennan (Dublin South, Fianna Fail)
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The Social Welfare Consolidation Act, 2005, requires that an actuarial review of the financial condition of the social insurance fund at five-year intervals. The first actuarial review of the social insurance fund was published in October, 2002, and reflected the position of the social insurance fund at the end of 2000. The 2 nd actuarial review will update that report to address the position of the fund at the end of 2005. The focus of the examination is the income of the Fund (including the accumulated surplus), the contributory pensions and benefits paid from the Fund, including non-cash benefits (household benefits package) and other payments (redundancy and insolvency payments). The period covered by the review will be 55 years (from 2006 to 2061).
The contract to undertake the actuarial review of the fund was signed in October 2006. Work on the review is on schedule and the report is expected to be submitted over the coming weeks. A copy of the report will be laid before each House of the Oireachtas in accordance with the legislation. The tabular statement shows the receipts to and payments from the Fund from 2002 to 2006. It also shows the annual surplus and accumulated surplus over that period.
| Social Insurance receipts, expenditure and surplus 2002-2006 | |||||
| Social Insurance Fund | 2006 | 2005 | 2004 | 2003 | 2002 |
| â'¬000 | â'¬000 | â'¬000 | â'¬000 | â'¬000 | |
| Provisional | |||||
| Receipts | 6,997,152 | 6,159,018 | 5,649,620 | 5,088,532 | 4,798,243 |
| Expenditure | 6,327,517 | 5,664,609 | 5,272,543 | 4,833,197 | 4,375,924 |
| S.I. Surplus | 669,635 | 494,409 | 377,077 | 255,335 | 422,319 |
| Transferred to Exchequer | (635,000) | ||||
| Cumulative S.I. Surplus | 3,068,441 | 2,398,806 | 1,904,397 | 1,527,320 | 1,271,985 |
Ruairi Quinn (Dublin South East, Labour)
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Question 451: To ask the Minister for Social and Family Affairs the number of persons paying PRSI at the full rate who earn amounts (details supplied). [12828/07]
Séamus Brennan (Dublin South, Fianna Fail)
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The following figures are estimates of the numbers paying full rate PRSI contributions at different earnings levels.
| Income Band | Insured Persons |
| € | |
| 48,000 or less | 1,612,990 |
| 48,800–60,000 | 96,060 |
| 60,000–80,000 | 69,020 |
| 80,000–100,000 | 24,438 |
| 100,000–120,000 | 11,520 |
| 120,000–150,000 | 8,150 |
| 150,000–200,000 | 5,020 |
| 200,000 and above | 4,780 |
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