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IAS 26 — Presentation of retirement benefit plan investments

Date recorded:

The IFRIC considered a clarification of presentation of changes in the fair value of plan assets, as in view of some constituents there is an inconsistency between IAS 26 Accounting and Reporting by Retirement Benefit Plans (present those changes in the statement of changes in net assets available for benefits) and IAS 39 Financial Instruments: Recognition and Measurement (present them in profit or loss or in OCI depending on classification of the assets).

The IFRIC agreed that the guidance is clear, and IAS 26 provides a complete guidance on the recognition, measurement, presentation, and disclosure of plan assets in the financial statements of retirement benefit plans and thus classification of these assets in accordance with IAS 39 would be inappropriate.

The IFRIC disagreed with any comprehensive scope exemption of those assets from IAS 39/IAS 32 or IFRS 7 as it believed that some guidance that does not conflict with IAS 26 requirements but complements it would be useful (for example, fair value measurement).

The IFRIC thus decided not to proceed with annual improvement and publish an agenda decision.

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