Current transactions by sectors; National Accounts

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Description topics

Resources

Resources are transactions add to the economic value of sectors.

Compensation of employees

The compensation of employees is the total remuneration, in cash or in kind, payable by an employer to an employee in return for work done by the latter during an accounting period. The compensation of employees is equal to the sum of wages and salaries and employers' social contributions.

Employers' social contributions

Employers' social contributions are social contributions payable by employers to social security schemes or other employment-related social insurance schemes to secure social benefits for their employees. Employer's social contributions may be either actual or imputed. As set out by the ESA 2010, pay over periods in which no work is done due to illness or bad weather is registered as part of employers' social contributions.

Social contributions and benefits

Social contributions and benefits are transfers to households, in cash or in kind, intended to relieve them from the financial burden of a number of risks or needs, made through collectively organized schemes, or outside such schemes by government units and NPISHs; they include payments from general government to producers which individually benefit households and which are made in the context of social risks or needs.
Social benefits are transfers to households, intended to relieve them from the financial burden of a number of risks or needs, such as sickness, invalidity, disability, old age, survivors and unemployment.

Total

Net social contributions

Social contributions include social security contributions, private social contributions (among which contributions to pension schemes) and imputed social contributions. Employers, employees, self-employed persons and non-active persons pay these contributions. Actually, the employers' part is paid directly to the insurers. However, in the national accounts, the employers' contributions are supposed to be part of primary income of households (i.e. the income from direct participation in the production process). Therefore, in first instance these contributions are treated as payments by employers to households as compensation of employees, who are deemed to pay them to the insurers in the income account.

Total

Employers' actual social contributions

Payments by employers, enforced by laws or (collective) labor agreement, in order to make social benefits possible.

Employers' imputed social contributions

Imputed social contributions represent the counterpart to the 'unfunded employee social benefits' (less any employees' social contributions) paid directly by employers to their (former) employees. It is necessary to introduce this imputation because the direct payments are recorded twice. Firstly they are recorded as employers' social contributions (part of the compensation of employees). Secondly they are recorded as social benefits.

Households' actual social contributions

Households' actual social contributions are social contributions payable on their own behalf by employees, self-employed or non-employed persons to social insurance schemes.

Households' social contrib. supplements

Households' social contribution supplements consist of the property income earned during the accounting period on the stock of pension and non-pension entitlements.

The social insur. scheme service charges

The social insurance scheme service charges are the service fees charged by the units administering the schemes. They appear here as part of the calculation for net social contributions; they are not redistributive transactions but part of output and consumption expenditure.

Uses

Uses are transactions appear which deduces the economic value of sectors.

Compensation of employees

The compensation of employees is the total remuneration, in cash or in kind, payable by an employer to an employee in return for work done by the latter during an accounting period. The compensation of employees is equal to the sum of wages and salaries and employers' social contributions.

Employers' social contributions

Employers' social contributions are social contributions payable by employers to social security schemes or other employment-related social insurance schemes to secure social benefits for their employees. Employer's social contributions may be either actual or imputed. As set out by the ESA 2010, pay over periods in which no work is done due to illness or bad weather is registered as part of employers' social contributions.

Social contributions and benefits

Social contributions and benefits are transfers to households, in cash or in kind, intended to relieve them from the financial burden of a number of risks or needs, made through collectively organized schemes, or outside such schemes by government units and NPISHs; they include payments from general government to producers which individually benefit households and which are made in the context of social risks or needs.
Social benefits are transfers to households, intended to relieve them from the financial burden of a number of risks or needs, such as sickness, invalidity, disability, old age, survivors and unemployment.

Total

Net social contributions

Social contributions include social security contributions, private social contributions (among which contributions to pension schemes) and imputed social contributions. Employers, employees, self-employed persons and non-active persons pay these contributions. Actually, the employers' part is paid directly to the insurers. However, in the national accounts, the employers' contributions are supposed to be part of primary income of households (i.e. the income from direct participation in the production process). Therefore, in first instance these contributions are treated as payments by employers to households as compensation of employees, who are deemed to pay them to the insurers in the income account.

Total

Employers' actual social contributions

Payments by employers, enforced by laws or (collective) labor agreement, in order to make social benefits possible.

Employers' imputed social contributions

Imputed social contributions represent the counterpart to the 'unfunded employee social benefits' (less any employees' social contributions) paid directly by employers to their (former) employees. It is necessary to introduce this imputation because the direct payments are recorded twice. Firstly they are recorded as employers' social contributions (part of the compensation of employees). Secondly they are recorded as social benefits.

Households' actual social contributions

Households' actual social contributions are social contributions payable on their own behalf by employees, self-employed or non-employed persons to social insurance schemes.

Households' social contrib. supplements

Households' social contribution supplements consist of the property income earned during the accounting period on the stock of pension and non-pension entitlements.

The social insur. scheme service charges

The social insurance scheme service charges are the service fees charged by the units administering the schemes. They appear here as part of the calculation for net social contributions; they are not redistributive transactions but part of output and consumption expenditure.