National Social Security Institute (INSS) collected over one trillion kwanzas in 2024 (more than €919.6 million), representing a 26% increase compared to the same period in the previous year, the government announced on Thursday.
According to the Secretary of State for Labour and Social Security, Pedro Filipe, 2024 was “a year of considerable financial performance,” noting that in 2023, contributions totaled 836.2 billion kwanzas (€769 million).
“If we go back five years, when revenues were around 300 billion kwanzas (approximately €275.9 million), we have more than tripled our revenue collection levels. Therefore, the sustainability of the National Social Security Institute is not in question,” he assured.
Speaking at the 11th edition of the briefing held by the Ministry of Public Administration, Labour and Social Security (MAPTSS), presenting the results for the first half of 2025, Pedro Filipe highlighted ongoing challenges, stressing the need to expand the contribution base.
“Our active population is currently over 16 million people. If we include both the formal and informal employment sectors, we have more than 16 million workers, but only a little over three million are under our control. There are still many companies that do not contribute. Even so, the figures give us reassurance and a very clear indication that we are on the right path,” he said.
The Secretary of State also noted that the process of settling social security debts is ongoing. By the first half of this year, the government had recovered more than 10 billion kwanzas (just over €9 million).
“We notified more than 5,000 debtor companies. Through a mix of voluntary settlements and coercive collections upon the presentation of payment evidence, the INSS recovered over 10 billion kwanzas (€9.1 million). And we will continue—we will be relentless in pursuing those in default,” he stated.
Pedro Filipe acknowledged the “challenging” economic context of the country but emphasized that some companies fail to make contributions for their workers “out of negligence, ignorance, or blatant bad faith.”
INSS Chairman Anselmo Monteiro stated that the current coverage rate is just 34%, underlining the need to expand the contribution base to over 50% to ensure the sustainability of the institution.
He stressed that many companies still owe money to the social security system, ultimately harming their workers.
Investments in the financial and productive sectors—specifically agriculture and mining—have been identified as key strategies to ensure the sustainability of mandatory social protection. Other potential investments are also being considered, although not yet specified.
During the reporting period, the number of contributors increased from 249,000 to 270,636, marking a growth rate of 8.6%.
“These new contributors—amounting to just over 21,000 companies, mostly in the private sector—give us a clear picture of the current employment market dynamics,” he added.
Pedro Filipe also noted stability among pensioners, with 168,467 beneficiaries in the first half of 2024—56 fewer than in the first half of this year—indicating a stable trend.
“There is no reason for concern at this stage. We have one of the highest dependency ratios in the world—for every pensioner, we have 18 active contributors. The ratio between those receiving pensions and those working and contributing still gives us significant reassurance,” he emphasized.
Source: Lusa
