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Dive into the research topics where Robert Meneu Gaya is active.

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Featured researches published by Robert Meneu Gaya.


International Social Security Review | 2018

Towards an adequate and sustainable replacement rate in defined benefit pension systems: The case of Spain: The replacement rate in the Spanish defined benefit pension system

Juan José Alonso Fernández; José Enrique Devesa Carpio; Mar Devesa Carpio; Inmaculada Domínguez Fabián; Borja Encinas Goenechea; Robert Meneu Gaya

English Abstract: The main objective of this article is to determine, based on internal data, replacement rates for a defined benefit pension system, with two aims: the adequacy of pensions – measured in terms of the expenditure of retirees – and the sustainability of the system. For this purpose two instruments are used: the internal rate of return, and techniques based on systems of notional accounts. These figures, derived from internal data, will serve, by comparison with the replacement rate of the system, to assess whether the system tends more towards adequacy or sustainability. The system studied is that of Spain. French Abstract: Cet article vise principalement à déterminer, à partir de données internes, les taux de remplacement d’un régime de retraite à prestations définies permettant de répondre au double objectif de l’adéquation des pensions – mesurée en fonction du niveau de dépenses des retraités – et de la viabilité du régime. Pour ce faire, deux instruments sont utilisés: le taux de rendement interne du régime et des techniques basées sur les systèmes de comptes notionnels. Ces éléments chiffrés, obtenus à partir de données internes, permettent, par comparaison avec le taux de remplacement effectif du régime, de déterminer si ce dernier est davantage orienté vers l’objectif de l’adéquation ou vers celui de la viabilité. Cette étude s’appuie sur le régime de retraite espagnol.


Applied Economics | 2018

The effects of recent Spanish pension reforms on sustainability and pension adequacy

Robert Meneu Gaya; José-Enrique Devesa Carpio; Inmaculada Domínguez Fabián; Borja Encinas Goenechea; Juan-José Alonso Fernández

ABSTRACT The Spanish pension system has been recently reformed as a response to the demographic challenge and with the objective of ensuring the sustainability of the pension system in the long-term. The overall reforms include changes in the majority of the system parameters, a new indexation rule and a sustainability factor that links life expectancy and the first pension amount. The aim of this work is to analyse how these reforms affect two important features of a pension system: fiscal sustainability and adequacy. For this purpose, the real internal rate of return (IRR) of the lifetime contributions and benefits and the prospective gross theoretical replacement rate (TRR), both before and after the reforms, have been computed. The calculations are case-study based, for a few hypothetical workers who are sufficiently representative of the earnings and retirement patterns in Spain. The results show that the real IRR is 0.7 p.p. lower and the prospective gross TRR is 18 p.p. lower after the reform process for the base case of a man with an uninterrupted career of 40 years with average earnings and a retirement age of 65. In addition, pension reform process in Spain has different effects among the individuals depending on the gender, level of earnings, retirement age and career length.ABSTRACTThe Spanish pension system has been recently reformed as a response to the demographic challenge and with the objective of ensuring the sustainability of the pension system in the long-term...


Universia Business Review | 2016

EL RETO DE LAS ENTIDADES ASEGURADORAS ANTE LA INTRODUCCIÓN DE LA RENTABILIDAD ESPERADA EN ESPAÑA

José Enrique Devesa Carpio; Mar Devesa Carpio; Juan José Alonso Fernández; Inmaculada Domínguez Fabián; Robert Meneu Gaya; Borja Encinas Goenechea

The inclusion of the Expected Return into the rules governing the insurance regulation in Spain may be considered as an important step to improve the transparency of the insurance system. The implementation of the Expected Return will allow to carry out the comparison, in terms of profitability, between insurance products offered by different companies. One of the objectives of this paper is to propose the methodology that should be followed for the calculation of the Expected Return, so that this indicator fulfills its main purpose: to compare different insurance products. The second contribution of this paper will allow to analyze the impact that the change in the premium value has on the Expected Return, so that it can become a new element to be considered by insurance companies.


Economía Española y Protección Social | 2013

El factor de sostenibilidad: diseños alternativos y valoración financiero-actuarial de sus efectos sobre los parámetros del sistema

Robert Meneu Gaya; José Enrique Devesa Carpio; Mar Devesa Carpio; Inmaculada Domínguez Fabián; Francisco Borja Encinas Goenechea; Amparo Nagore García


Revista De Economia Aplicada | 2015

EL ÍNDICE DE REVALORIZACIÓN DE LAS PENSIONES (IRP) Y SU IMPACTO SOBRE EL SISTEMA DE PENSIONES ESPAÑOL

José Enrique Devesa Carpio; Mar Devesa Carpio; Robert Meneu Gaya; Inmaculada Domínguez Fabián; Borja Encinas Goenechea


Papeles de economía española | 2017

¿Es posible mejorar la sostenibilidad financiero-actuarial de la Seguridad Social española?

José Enrique Devesa Carpio; Mar Devesa Carpio; Inmaculada Domínguez Fabián; Francisco Borja Encinas Goenechea; Robert Meneu Gaya


Universia Business Review | 2016

The challenge faced by Insurance Companies with the introduction of the Expected Return in Spain

José Enrique Devesa Carpio; Mar Devesa Carpio; Juan José Alonso Fernández; Inmaculada Domínguez Fabián; Robert Meneu Gaya; Borja Encinas Goenechea


Unión Europea Aranzadi | 2015

El Tribunal de Justicia de la Unión Europea no aprecia discriminación en la fórmula de integración de lagunas para los contratos a tiempo parcial

Juan José Alonso Fernández; José Enrique Devesa Carpio; Mar Devesa Carpio; Inmaculada Domínguez Fabián; Francisco Borja Encinas Goenechea; Robert Meneu Gaya


Unión Europea Aranzadi | 2015

Reformas de los sistemas de pensiones en la Unión Europea

José Enrique Devesa Carpio; Mar Devesa Carpio; Inmaculada Domínguez Fabián; Francisco Borja Encinas Goenechea; Robert Meneu Gaya; Juan José Alonso Fernández


Harvard Deusto Business Research | 2014

La mejor estrategia para la jubilación de los autónomos

Enrique Devesa Carpio; Mar Devesa Carpio; Inmaculada Domínguez Fabián; Borja Encinas Goenechea; Robert Meneu Gaya; Amparo Nagore García

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