IPSASB finalises guidance on retirement benefit plans

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09 Nov, 2023

The International Public Sector Accounting Standards Board (IPSASB) has released International Public Sector Accounting Standard (IPSAS) 49 'Retirement Benefit Plans'.

IPSAS 49 Retirement Benefit Plans is based on IAS 26 Accounting and Reporting by Retirement Benefit Plans and establishes comprehensive accounting and reporting requirements for the financial statements of retirement benefit plans, with participants comprising current and former public sector employees and other eligible membersIn developing principles for the public sector, the private sector requirements in IAS 26 were adapted, based on experience from around the world, to ensure the unique characteristics of the public sector are reflected in the standard. In particular, the existing policy choices available in IAS 26 were reviewed and those removed that are not appropriate for the public sector or are inconsistent with existing IPSAS.

IPSAS 49 has an effective date of 1 January 2026 with earlier application permitted.

The following additional information is available on the IPSASB website:

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