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- Title
DESEQUILIBRIO FINANCIERO-ACTUARIAL EN EL SISTEMA DE PENSIONES DE JUBILACIÓN DEL RÉGIMEN GENERAL.
- Authors
Carpio, José Enrique Devesa; Carpio, Mar Devesa
- Abstract
The purpose of this paper is to define and measure the actuarial deficit of a pension system. To accomplish this aim, first, a theoretical model is developed to estimate the implicit debt through two different methods ("Retrospective method" and "Prospective method"). Second, a new measure of the imbalance of the Social Security system is defined from a strictly actuarial viewpoint. This new measure is related to the estimated net present value. Third, the model developed is adjusted to the available aggregate data in most countries in order to calculate the amount of the implicit Social Security debt through the two different methods. Fourth, this model is applied to the general retirement pension system ("Regimen General") of the Spanish Social Security to measure the actuarial imbalance of the system for two consecutive years, 2002 and 2003. Finally, the authors present different alternatives to rebalance the system.
- Subjects
SPAIN; DEFICIT financing; PENSION financing; SOCIAL security; RETROSPECTIVE studies; NET present value
- Publication
Revista de Economía Aplicada, 2008, Vol 16, Issue 46, p85
- ISSN
1133-455X
- Publication type
Article