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Transforming the supplementary table on pension liabilities (Table 29) into an actuarial balance sheet

Author

Listed:
  • Anne M. Garvey
  • Juan Manuel Pérez-Salamero González
  • Manuel Ventura-Marco
  • Carlos Vidal-Meliá

Abstract

For policy-makers, statisticians, public accountants, social security actuaries, public finance economists and other stakeholders, the regulation introduced by the EU regarding the disclosure of an accrued-to-date liability (ADL) table (Table 29) is a valuable first step in reporting pension liabilities. However, the information disclosed is incomplete and does not provide an indicator of solvency or sustainability. In addition, pensioners and those making contributions to pensions have no information regarding the security of their future benefits. In this timely article, the authors present a methodology to easily transform Table 29 into an actuarial balance sheet (ABS) and compile its associated income statement (IS). The ABS can be used to assess the solvency of pension schemes, whereas Table 29 cannot.

Suggested Citation

  • Anne M. Garvey & Juan Manuel Pérez-Salamero González & Manuel Ventura-Marco & Carlos Vidal-Meliá, 2023. "Transforming the supplementary table on pension liabilities (Table 29) into an actuarial balance sheet," Public Money & Management, Taylor & Francis Journals, vol. 43(8), pages 783-792, November.
    • Handle: RePEc:taf:pubmmg:v:43:y:2023:i:8:p:783-792
    DOI: 10.1080/09540962.2022.2144362
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    1. Carlos Vidal Meliá & Juan Manuel Pérez-Salamero González & Anne M. Garvey & Anna Castañer Garriga, 2024. "The supplementary table on pensions (Table 29): Actuarial Balance Sheet Update for the Spanish Pension System to 2021, Wave Three," Studies on the Spanish Economy eee2024-18, FEDEA.

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