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IASB proposes amendments to pension accounting

  • IASB document Image

Jun 18, 2015

The IASB has published an exposure draft (ED), “Remeasurement on a Plan Amendment, Curtailment or Settlement/Availability of a Refund From a Defined Benefit Plan,” that proposes narrow-scope amendments to the pension accounting requirements in IAS 19, “Employee Benefits,” and IFRIC 14, “IAS 19 — The Limit on a Defined Benefit Asset, Minimum Funding Requirements and Their Interaction.”

Under the proposed amendments to IAS 19, an entity would be required to use updated information regarding “the assumptions about its obligation and fair value of its plan assets . . . to determine current service cost and net interest for the period followed by these changes.” The proposed revisions to IFRIC 14 would clarify “how the powers of other parties, such as the Trustees of the plan, affect an entity’s right to a refund of a surplus from the plan.”

The overall objectives of the proposed amendments are to enhance the information provided to investors and reduce diversity in practice. Comments on the ED are due by October 19, 2015.

For more information, see Deloitte's related IFRS in Focus newsletter as well as the press release and ED on the IASB’s Web site.

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