LUCES Y SOMBRAS DEL SISTEMA DE CUENTAS NOCIONALES

Abstract

The system of notional accounts has been successfully implemented for years in some European countries and, in others, there are plans to change to it. This system makes the worker uncertain as he/she does not know what his/her retirement pension will be. Therefore, this paper analyzes the system of notional accounts in order to clarify their possible strengths and weaknesses. There are located the factors that influence the accumulated value at retirement, and that will make it possible to obtain a retirement pension, the ultimate end of this system of social financing. Finally, some simple rules are derived that make it possible to know the level of pension that the worker would reach depending on the decisions taken and according to the standard of living that he/she wishes to have when retiring. Keywords: actuarial equivalence, pensions, retirement, Social Security