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A Revision of the Revaluation Index of Spanish Pensions

Oriol Roch (), Manuela Bosch-Príncep (), Isabel Morillo () and Daniel Vilalta ()
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Oriol Roch: Universitat de Barcelona
Manuela Bosch-Príncep: Universitat de Barcelona
Isabel Morillo: Universitat de Barcelona
Daniel Vilalta: Universidad de Alcalá

Hacienda Pública Española, 2017, vol. 222, issue 3, 109-134

Abstract: This article reviews the methodological aspects of the revaluation index of Spanish pensions developed following Law 23/2013 which regulates the sustainability factor and revaluation index of the Social Security pension system. From a gradual breakdown of the elements that make up the revaluation index, an exposition is given of the formal and implementation problems it involves. Finally, an alternative model based on dynamic optimization techniques is proposed and its use is illustrated with numerical examples.

Keywords: Revaluation index; automatic balancing mechanisms; Spanish Social Security System (search for similar items in EconPapers)
JEL-codes: H55 J26 (search for similar items in EconPapers)
Date: 2017
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Handle: RePEc:hpe:journl:y:2017:v:222:i:3:p:109-134