This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice ( for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

Hans Hoogervorst speaks about pension accounting

  • IFRS - IASB Image
  • IFRS  - Speech Image

Mar 12, 2015

On March 12, 2015, the International Accounting Standards Board released a speech given at a conference of the UK National Association of Pension Funds by Hans Hoogervorst, Chairman, where he said realistic numbers about pension liabilities might not make pretty reading but they will lead to informed investment decisions.

In his speech, Mr Hoogervorst went into more detail on three aspects of pension accounting. He first visited the question of whether the IASB relies too much on fair value measurement in its standards and whether this would lead to too much market volatility, which would not serve the long-term perspective of long-term investors.

In the same vein, Mr Hoogervorst then turned to recent amendments of IAS 19 Employee Benefits. Mr Hoogervorst stressed that as a result, the balance sheet pension asset or liability now represented the actual funding position. He claimed that investors generally saw this as an improvement.

Lastly, Mr Hoogervorst commented on the fact that pension schemes were currently being transformed in a very rapid fashion and hybrid pension schemes were on the rise. He therefore pointed at the IASB's research project on pension accounting that aims at developing an approach to pension accounting that works for all types of schemes.

Please click to download the full text of Mr Hoogervorst's speech from the IASB website.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.