Improving Decision Making Information: “Table 29” to an Actuarial Balance Sheet

Anne M. Garvey (), Juan Manuel Pérez-Salamero González, Manuel Ventura-Marco and Carlos Vidal-Melia
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Anne M. Garvey: University of Alcalá, Department of Economics and Management Sciences
Juan Manuel Pérez-Salamero González: University of Valencia, Department of Financial Economics and Actuarial Science
Manuel Ventura-Marco: University of Valencia, Department of Financial Economics and Actuarial Science

A chapter in Mathematical and Statistical Methods for Actuarial Sciences and Finance, 2022, pp 284-290 from Springer

Abstract: Abstract This paper considers how to improve pension information, by making it more relevant for decision making purposes. Since 2017, it has been mandatory for the Member States of the European Union to report pension entitlement information, in a supplementary report referred to as Table 29. The usefulness of this unaccompanied liability information is analyzed, and a proposal is made to complement it with an actuarial balance sheet (ABS) and its corresponding income statement. More specifically, we propose a methodology to easily convert Table 29 into an ABS which estimates the assets that accompany the liabilities in the Table and which undoubtedly provides more useful information for taking decisions. To a large extent the considerations follow the requirements of the International Public Sector Accounting Standards Board (IPSASB), which explain in its conceptual framework (CF) that the aim of financial reporting by public sector entities is to provide information about any particular entity for the purposes of accountability and decision-making. It is the information needs of their users, therefore, that condition the content of financial reports.

Keywords: Accountability; Actuarial balance sheet; Income statement; Pension liabilities; Table 29; Useful information (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-99638-3_46

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DOI: 10.1007/978-3-030-99638-3_46

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