Survey

Social insurance fund revenue increases 2017-10-12 13:24

According to the General Authority for Health and Social Insurance, Social insurance fund revenue is increasing, the National Statistics Office said. 

Particularly, in the first 9 months of 2017, it has reached MNT 1.5 trillion, reflecting an increase accumulated surplus of MNT 227.3 billion or 17.4%. The fund expenditure was MNT 1.4 trillion, showing an increase by MNT 105.8 billion or 8.3% compared with the same period of the previous year.  
 
The surplus of Social Insurance Fund is partially affected by the increase of pension insurance fund by MNT 142.6 billion or 15.4% and health insurance fund by MNT 45.6 billion or 21.8%. 
 
The main reason for the increase of the fund expenditure is growth of pension insurance fund by MNT 74.3 billion or 7.6% and health insurance fund by MNT 18.0 billion or 10.1%. 
 
In the reference period, the Social insurance fund total income amounted to MNT 171.2 billion, which indicates a growth by MNT 6.1 billion or 3.7% from the same period of the previous year. The total expenditures reached MNT 154.5 billion, also an increase by MNT 10.6 billion or 7.4% from a year ago. 
 
The General Office of Labor and Welfare Service reported that in the first 9 months of 2017, pensions and allowances worth of MNT 112.8 billion were granted to 234.8 thousand persons from the Social Welfare fund. It shows a decrease of pension receivers by 15.7 thousand or 6.3%, and increase amount of pensions and allowances by MNT 328.5 million or 0.3% compared to same period of the previous year. 
 
In the first 9 month of 2017, 57.7 thousand persons received social welfare pensions, total amount of pensions has increased by MNT 55.0 million or 0.1%, however pension receivers has decreased by 5.2 thousand or 8.2% compared to the same period of the previous year. 
 
In the first 9 months of this year, 390.8 thousand people have received social welfare services and mitigations, of which majority or 66.9% goes to social welfare incentives and conditioned cash benefits. MNT 69.6 billion was disbursed as social services and mitigation, which is an increase in MNT 3.6 billion or 5.4%. In the first 7 months, Children’s cash allowances worth of MNT 145.4 billion were granted to 1055.1 thousand children aged below 18. 

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