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Issue 22. Recognition of social security entitlements as liabilities

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Description of the issue
As discussed in part 2 of chapter 17 [of the 2008 SNA], social security entitlements are not recorded in the main accounts but they are shown in a supplementary table along with the pension entitlements of some other pension schemes managed by general government. Provisional criteria for determining whether the entitlements are shown in the main accounts or only in the supplementary table are described in paragraph 17.187. Work continues to refine these criteria and to find agreed methods to determine the value of these liabilities.
Discussions on the issue
The AEG acknowledged that further clarification is needed in respect of the delineation and measurement of pension entitlements and the articulation of when to record the transactions, other flows and positions of defined benefit pension schemes in the core accounts, in line with the 2008 SNA recommendations.

See Issues Under Discussion: Accounting for pension.

The AEG is also reviewing the development of a table on household retirement resources which is intended to provide extensive and detailed information on the various household resources for retirement, including the scope of assets and cross-border transactions. Further work is required regarding the delineation of social assistance benefits and the possible inclusion of assets such as owner-occupied dwellings.

See also Issues Under Discussion: Table on household retirement resources.

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