PSOE, PP, Vox and Sumar will make a request this Tuesday to resolve the debt situation of Social Security, which as of December 31, 2022 accumulated a negative net worth of 88,759.4 million euros. Specifically, the Joint Commission of Congress and Senate will vote on several proposed resolutions from political groups, collected by Europa Press, on the report that the supervisory body made on the Declaration on the General Account of the State carried out by the General Intervention (IGAE) in 2022. If we add to this amount the more than 10,000 million that the Treasury lent again to Social Security in 2023 and what it will foreseeably lend from 2024, the historical indebtedness of the system, which comes from annual loans, for different reasons, since the 90s, already exceeds 100,000 million euros.
In that document, the entity chaired by Enriqueta Chicano explained that A good part of the Social Security debt is generated through loans granted by the Statesome extendable or directly without a refund period. For example, in 2022 a loan was granted to the General Treasury of Social Security worth 6,981.6 million euros. The Court also warned in its report that some of these loans have been pending repayment since the 90s and came from when Social Security financed healthcare.
With this scenario, the main political groups in the country agree on tackling the problem. Both PSOE and PP urge the Government to resolve the Social Security debt situation vis-à-vis the State, especially the loans and debts pending amortization since the 1990s. Vox also requests this in its resolution proposal, where demands that the problem be resolved with measures approved “within the Council of Ministers.”
On the contrary, on Sumar’s side, the plurinational group proposes stopping the granting of loans to solve crisis situations in the system, which has already become a temporary measure “that has not resolved the structural financing difficulties that it suffers.” the system, also placing it in a compromised position of indebtedness towards the State.” Likewise, the plurinational group proposes that a solution be addressed for the compensation and amortization of reciprocal obligations and rights between the Administration and the entities of the Social Security system.
Another of the notes left by the Court of Accounts in its report is that the Reserve Fund, popularly known as pension piggy bankbecomes part of the Social Security assets in accounting terms. In this regard, the PP has registered a proposed resolution urging the Executive to include the Reserve Fund in the net assets of the General Treasury of Social Security.
