Government expenditure on Social Security and Welfare rose from Rs 9,682 million in 2004/2005 to Rs 17,600 million in 2010, showing an increase of around 82% states the Central Statistical Office in its latest Economic and Social report

It is expected that the number of beneficiaries of Basic Retirement Pension, which was around 153,950 in December 2010 will more than double to reach 368,600 in forty years. Likewise, based on the same rate as applicable in 2010, the amount to be disbursed in 2050 also will more than double to reach Rs 16.6 billion compared to Rs 5.7 billion in 2010.

The number of beneficiaries of Basic Retirement Pension, that is persons aged 60 years and over, increased by 27.4% from 120,802 in June 2005 to 153,950 in December 2010. The total amount paid by government to old-age pensioners was Rs 6,609 million in 2010 compared to Rs 3,486 million in 2004/2005.

There were 21,850 Basic Widow’s Pensioners in December 2010 compared to 22,672 in June 2005, showing a decrease of 3.6%. However, the amount disbursed increased from Rs 639 million in 2004/2005 to Rs 885 million in 2010.

The number of Basic Invalid’s Pensioners increased by 10.3%, from 25,646 in June 2005 to 28,280 in December 2010. The total amount disbursed rose from Rs 867 million in 2004/2005 to Rs 1,312 million in 2010.

The number of beneficiaries of Basic Orphan’s Pension decreased from 457 in June 2005 to 360 in December 2010. However, expenditure on Basic Orphan’s Pension and Guardian’s allowance rose from Rs 14 million in 2004/2005 to Rs 23 million in 2010.

In December 2010, 19,432 families benefited from Social Aid compared to 17,536 in June 2005. The amount paid increased from Rs 317 million in 2004/2005 to Rs 541 million in 2010.