Social Security Surplus Slightly Decreases to €2.712.4 Million

Portugal’s Social Security system recorded a surplus of €2.712.4 million by July, marking a slight decrease compared to the previous year. This comes as total spending reached €20.698.3 million, a 12.4% increase compared to the same period last year. This increase is driven by pensions, which rose 13% to €12.924.8 million, with old-age pensions seeing the most significant growth at 14.1%. Unemployment benefits also saw a notable increase, rising by 19% to €928.6 million by July. On the revenue side, contributions and payments from workers and employers reached €15.529.1 million, representing a 10.4% increase year-on-year.