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Measuring and Recording of Pensions

Agenda item 5. Measuring and Recording of Pensions. Geneva, 26-29 April 2010 * Discussion by: Peter van de Ven. Short overview of the papers. ECB-paper Overview of the changes in SNA/ESA

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Measuring and Recording of Pensions

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  1. Agenda item 5 Measuring and Recording of Pensions Geneva, 26-29 April 2010 * Discussion by: Peter van de Ven

  2. Short overview of the papers • ECB-paper • Overview of the changes in SNA/ESA • Overview of the work by EU Task Force on pensions, with results for Euro Area, France and Germany (mainly for social security and other government schemes) • Also contains a sensitivity analysis for discount rate and real wage growth • Accrual accounting for pensions and sustainability • USA-paper • Overview of the work by BEA, with results for USA (both private and government schemes) • Focus on difference between cash accounting and accrual accounting for HH income, saving and wealth • Analysis of ABO versus PBO

  3. Short overview of the papers • Spanish paper • Overview of work by INE (together with ministries and central bank), with results for Spain (social security scheme and related scheme for civil servants • Different approach: sample of people entitled to pensions

  4. Some general issues • ABO versus PBO • Preferred concept? • Use of different concepts by sector? • Discount rate • Volatility of discount rate over time? • Use of different discount rates by sector and/or institutional unit? • Preferred concept of government debt • Including/excluding pension liabilities? • Net versus gross?

  5. Thank you for your attention!

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