Post-employment benefits – Amendments to IAS 19
This project resulted from the joint IASB-FASB comprehensive project on accounting for employee benefits. This aspect of the project seeks to consider the choices permitted in IAS 19 Employee Benefits (1998) on how to account for actuarial gains and losses on pensions and similar items, and related improvements to existing employee benefit accounting.
During the course of this project, in July 2009 the IASB agreed to under a separate project to urgently amend IAS 19 paragraph 78 to remove the requirement to use a government bond rate when there is no deep market in high quality corporate bonds and to provide guidance on how to estimate a high quality corporate bond rate. The IASB did not ultimately proceed with this amendment, but later agreed to a further project to clarify the determination of the discount rate used, particularly around the requirement to use market yields on high quality corporate bonds or government bonds.
Current status of the project
This project has been completed. IAS 19 Employee Benefits (amended 2011) was issued on 16 June 2011.
|27 March 2008||Discussion Paper Preliminary Views on Amendments to IAS 19 Employee Benefits published||Comment deadline 26 September 2008|
|20 August 2009||Exposure Draft ED/2009/10 Discount Rate for Employee Benefits (Proposed amendments to IAS 19)||Comment deadline 30 September 2009|
|29 April 2010||Exposure Draft ED/2010/3 Defined Benefit Plans (Proposed amendments to IAS 19) issued||Comment deadline 6 September 2010|
|2 June 2011||Near Final Draft of amendments to IAS 19 published||Applies to annual periods beginning on or after 1 January 2013|
|16 June 2011||IAS 19 Employee Benefits (amended 2011) issued||Applies to annual periods beginning on or after 1 January 2013|