Castañer, AnnaGarvey, Anne MariePérez-Salamero González, Juan ManuelVidal-Meliá, Carlos2025-10-302025-10-302025-09-251911-8074https://hdl.handle.net/2445/223985This article presents a transparent and replicable framework to assess the net worth of public pension systems within the broader context of fiscal sustainability and public sector balance sheets. Using Spain as a case study, it transforms Eurostat’s Table 29 data into an actuarial balance sheet and income statement, applying the Swedish open group (SOG) approach. The analysis shows that Spain’s pension system faces a significant funding shortfall, with assets covering only 72% of its liabilities. The proposed method enhances fiscal transparency and provides policymakers with a practical tool to evaluate and improve long-term pension sustainability across different institutional contexts.34 p.application/pdfengcc-by (c) Castañer, Anna et al., 2025http://creativecommons.org/licenses/by/4.0/Pensions de jubilacióDèficit públicTransparència fiscalOld age pensionsBudget deficitsFiscal transparency)info:eu-repo/semantics/article7609272025-10-30info:eu-repo/semantics/openAccess