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

Anne M. Garvey, Juan Manuel Pérez-Salamero González, Manuel Ventura-Marco and Carlos Vidal-Melia

Public Money & Management, 2023, vol. 43, issue 8, 783-792

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.

Date: 2023
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DOI: 10.1080/09540962.2022.2144362

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