Does the pension system’s income statement really matter? A proposal for an NDC scheme with disability and minimum pension benefits

Ekonomska Istraživanja

卷:34

Anne M. Garvey¹  Carlos Vidal-Meliá²  Manuel Ventura-Marco² 

[1] Department of Economics and Management Sciences, University of Alcalá;

[2] Department of Financial Economics and Actuarial Science, University of Valencia;

关键词: disability insurance;    minimum pensions;    notional defined contribution;    pension accounting;    sweden;    true and fair view;   

DOI  :  10.1080/1331677X.2020.1782246

来源: DOAJ

【 摘 要 】

This paper develops an accounting model for monitoring the solvency of a notional defined contribution (NDC) pension scheme with disability and minimum pension benefits. Using the annual report of the Swedish pension system as a benchmark, the “Swedish” actuarial balance is extended by adding an income statement fully explaining the reasons behind the changes in the system’s solvency by type of benefit. In line with the reference model, assets and liabilities are measured at present value at each reporting date, and in each period, included as income or expenses on the Income statement. This accounting framework integrates both contributory and social aspects of public pensions and discloses the real cost of the disability contingency and the redistribution through minimum pensions. Apart from Sweden, this proposal could be especially interesting for improving the reporting of public pensions in countries such as Poland, Italy, Latvia and Norway.

【 授权许可】

Unknown