Dr. María del Carmen Boado-Penas holds a Ph.D. in Economics/Actuarial Science (Doctor Europeus and Extraordinary Award) from the University of Valencia (Spain) and a degree in Actuarial Sciences from the University of the Basque Country (Spain). She has also published several articles on public pension systems in prestigious international reviews and has cooperated on various projects related to pension systems at the Swedish Social Insurance Agency in Stockholm and at the Spanish Ministry of Labor and Immigration. She was also awarded a prize by the Foundation of Spanish Savings Banks for her PhD 'Instruments for improving the equity, transparency and sustainability of pay-as-you-go pension systems'. In 2020, she received the BBVA Longevia award (first prize on the economics section) to support pension research. Her research interests are focused on Notional Defined Contribution Accounts (NDCs), Actuarial Balance and Automatic Balance Mechanisms for the pay-as-you-go pension finance.