Social security 2021

The COVID-19 outbreak caused the highest social security deficit in 2020 at 1.7 percentage points of GDP. Close to balance in 2019 and after experiencing an unprecedented deficit in 2020 (-EUR 39.7 billion), the compulsory basic social security schemes and the Old Age Solidarity Fund (ASF) will still experience a strong financial imbalance in 2021 (-EUR 34.8 billion of projected deficit). Beyond 2021, the outlook for developments annexed to PLFSS 2022 foresees a social security deficit as a whole of around EUR 15 billion by 2024.
From now on, it is certain that the ceiling of EUR 92 billion authorising the resumption of deficits by the Cades for the financial years 2020 to 2023, set by the Law of 7 August 2020, will not cover the 2023 deficit.
In order to preserve this essential link of cohesion and solidarity, it is necessary, once the crisis is behind us, to start a path of returning to the financial balance of our social security system, with the aim, first of all, of limiting the increase in social debt and then of undertaking its gradual reduction. To this end, the Court makes 44 recommendations.