Post-employment Benefits

Date recorded:

The Board discussed a timetable proposed by the IASB staff for the proposed Post Employment Benefits exposure draft. The staff suggested that, as the Board and the FASB expect to discuss the presentation of other comprehensive income at their joint meeting in October, publishing the ED in November was possible.

The Board was more cautious than the staff. Several Board members noted that there were too many 'moving parts' in projects related to the presentation of pension expense and that it was premature to commit to the publication timetable. In particular, the Board was receiving criticism about how it (and the FASB) used the 'other comprehensive income' category and whether items recognised (for whatever reason) in OCI should be reclassified through profit or loss.

The Board deferred any decision on publishing the exposure draft until the November meeting.

Board members encouraged the staff generally to develop principles that defined what was recognised in OCI versus profit or loss, but several also suggested that such principles may be elusive.

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