The Social Security System in 2021

The consequences of the pandemic will have a lasting effect on the situation of government finances and in particular social finances. Close to break-even point in 2019, the basic social security schemes and the old-age solidarity fund (FSV) posted a deficit of an unprecedented magnitude (€39.7 billion) in 2020. According to the forecasts of the Social Security Finance Act for 2022, they will still see a very high deficit in 2021 (€34.8 billion in forecast deficit).