Transforming Eurostat’s Table 29 into an Actuarial Balance Sheet: A Net Worth Approach to Assessing Public Pension Solvency

Anna Castañer, Anne Marie Garvey (), Juan Manuel Pérez-Salamero González and Carlos Vidal-Meliá
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Anna Castañer: Department of Economic, Financial and Actuarial Mathematics, University of Barcelona, 08034 Barcelona, Spain
Anne Marie Garvey: Department of Economics and Business Management Sciences, University of Alcalá, 28801 Alcalá de Henares, Spain
Juan Manuel Pérez-Salamero González: Department of Financial and Actuarial Economics, University of Valencia, 46022 Valencia, Spain
Carlos Vidal-Meliá: Department of Financial and Actuarial Economics, University of Valencia, 46022 Valencia, Spain

JRFM, 2025, vol. 18, issue 9, 1-34

Abstract: This article presents a transparent and replicable framework to assess the net worth of public pension systems within the broader context of fiscal sustainability and public sector balance sheets. Using Spain as a case study, it transforms Eurostat’s Table 29 data into an actuarial balance sheet and income statement, applying the Swedish open group (SOG) approach. The analysis shows that Spain’s pension system faces a significant funding shortfall, with assets covering only 72% of its liabilities. The proposed method enhances fiscal transparency and provides policymakers with a practical tool to evaluate and improve long-term pension sustainability across different institutional contexts.

Keywords: actuarial balance sheet; net worth; pension liabilities; public pension solvency; Spain; Table 29; European Union (search for similar items in EconPapers)
JEL-codes: C E F2 F3 G (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:gam:jjrfmx:v:18:y:2025:i:9:p:528-:d:1753936

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