El balance actuarial del sistema de reparto. Modelo ‘sueco’ frente a modelo ‘EE.UU.’: Posible aplicación al caso Español

The objective of this paper is to shed some light on the two main methods used by government Social Security departments to draw up the actuarial balance focusing especially on their methodology, actuarial issues and the most recent results in order to identify the main differences and similarities between both methods. This paper also aims to show the advisability of making it compulsory to compile an annual actuarial balance in the Spanish Pay-As-You-Go public pension system so as to improve its transparency and solvency, and to provide further information to the Social Security committees in order to decide the lines to follow and the reforms to be introduced into the pension system. The authors suggest that making it compulsory to compile an actuarial balance every year would be beneficial in a number of ways: it would force them to avoid the use of populism in pensions, contributors and pensioners would have a reliable way of measuring to what degree the promises made to them regarding payment of their pensions are actually kept; and any proposals for a reform could be assessed more accurately.