Effective date of IAS 19 amendments

When 01 Jul 2014
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Defined Benefit Plans: Employee Contributions (Amendments to IAS 19) was issued on 21 November 2013 and is effective for annual periods beginning on or after 1 July 2014.

The pronouncement amends IAS 19 Employee Benefits (2011) to clarify the requirements that relate to how contributions from employees or third parties that are linked to service should be attributed to periods of service. In addition, it permits a practical expedient if the amount of the contributions is independent of the number of years of service, in that contributions, can, but are not required, to be recognised as a reduction in the service cost in the period in which the related service is rendered.

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