Andorra CASS Q3 2025: €24.6M General Deficit, €25.1M Retirement Surplus

The Andorran Social Security Fund (CASS) recorded a €24.6 million deficit in its general branch for the third quarter of 2025, below the €33.11 million full-year projection, alongside a €25.1 million surplus in the retirement branch that surpassed the €17 million forecast.

These results, approved at the CASS board meeting on Wednesday, December 16, stem from robust workforce expansion. Compared to the first nine months of 2024, salaried contributors climbed 3.4% to 46,857 by September—a 2.7% rise year-on-year. Self-employed contributors grew 6.6% to 9,257, while indirect insured stood at 18,785. General branch pensioners dropped 5.5% to 2,511, including 2,174 on disability, 336 on orphan's pensions, and one on ancestor review. Retirement branch pensioners rose 4.7% to 18,276, with 16,574 retirement pensions and 3,599 widowhood pensions (75 temporary). This produced a dependency ratio of 2.93 active insured per retirement pensioner, down 1.7% from the prior year.

General branch revenues reached €152.4 million, up 7.6% from Q3 2024, including €136.7 million from salaried and self-employed contributions and €15.7 million from economic benefits such as sick leave and pensions. Expenses climbed 8.8% to €177 million, with €113.9 million for healthcare (up 7.6%) and €63.1 million for economic benefits (up 10.9%).

Retirement branch revenues totaled €167.3 million, a 8.2% increase: €157.6 million from contributions, €4.5 million from economic benefits, and €5.2 million in government transfers for non-contributory pensions. Expenses rose 12.1% to €142.2 million, comprising €137 million for contributory pensions (up 12.8%) and €5.2 million for non-contributory (down 1.7%).

The board also endorsed updates to streamline "fulls grocs" (reimbursement forms). Agreements with non-contracted healthcare providers will replace paper submissions with electronic ones, cutting manual processing and speeding up remaining cases. Starting January 2026, insured individuals can monitor form status in the CASS portal's private area. A dedicated support service remains available by appointment via the portal or phone 870 870 for those with digital access challenges.