Burgos sees “probable” touch the Reserve Fund, though … – Yahoo Finance Spain

Madrid, Mar 23 (EFE) .- The Secretary of State for Social Security, Tomás Burgos, said today that it is “probable” that the government made provisions Reserve Fund this year, although “in much lower amounts.”

Speaking to the media at the Congress of Deputies, Burgos has ensured that the forecast that handles the government is “still use the Fund Social Security Reserve until the budget balance recovers. “

It also added that the increase in membership and revenue in recent months,” predicts a positive future for the Social Security system ” although it has stated that “probably need to continue using it, but in much lower amounts.”

Last year 15,300 million were used to ensure the concrete payment of more than nine million pensions and consequent revaluation, to which more than 700 million euros were allocated.

Burgos was speaking at the end of the ceremony in which the Minister for Employment, Fatima Banez, delivered the annual balance of the Fund corresponding to 2014 President of the Congress of Deputies Book, Jesus Posada.

The document details the amount of the bank pension at the end of last year reached 41.634 million euros, representing 3 93% of GDP.

However, its market value last year amounted to 47.721 million euros (4.51% of GDP), a figure that Burgos been above 48,000 million euro if, today, “we sold the assets of the Fund,” making it “one of the most powerful in our environment.”

These good results are due to the net income exceeded Last year 2.911 million euros, 30% higher than the previous year and only to the 2,970 million in 2012.

The balance presented today in Congress, announced Burgos, will be analyzed and the contributions of the parliamentary groups in the coming days will be discussed in the Toledo Pact Commission.

For the Secretary of State, the Reserve Fund is an instrument for improving the purchasing power of pensioners and defended its use is being “reasonable and commensurate with the needs of the system.”

Asked about the deficit target by the Social Security Burgos explained that, pending that final data in the coming weeks are published, “our goal is to fulfill it.”

It also added that it is experiencing a “remarkable increase in membership and revenue in a very different context previous years “

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