Post-employment Benefits (including pensions)
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The IASB aims to make fundamental improvements to the recognition, presentation and disclosures of defined benefit plans by mid-2011. These improvements will make it easier for users of financial statements to understand how defined benefit plans affect an entity's financial position, financial performance and cash flows.
The project was added to the IASB’s agenda in July 2006 and is part of the FASB and the IASB’s work programme towards convergence.
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Project set-up
| Project |
Status |
| Defined benefit plans |
In April 2010, the IASB published an exposure draft Defined Benefit Plans. The exposure draft is open for public comment until 6 September 2010. The IASB plans to finalise amendments to IAS 19 in mid-2011. |
| Related Project |
Status |
| Termination benefits |
In June 2005, the IASB published an exposure draft of amendments to IAS 19, dealing with the accounting for termination benefits, together with proposed amendments to IAS 37 Provisions, Contingent Liabilities and Contingent Assets. The IASB is working towards final amendments to the accounting for termination benefits. The date of publication is yet to be confirmed. |
| Prepayments of a minimum funding requirement |
In November 2009, the IASB amended IFRIC 14 to permit an entity that prepays contributions required under a minimum funding agreement to recognise an asset in some circumstances. |
| Discount rate for employee benefits |
In August 2009, the IASB published an exposure draft proposing to remove the requirement to use a government bond rate when there is no deep market in high quality corporate bonds. At its October 2009 meeting, the IASB decided not to proceed with an amendment to the discount rate for measuring employee benefits. |
Advisory groups
Employee Benefits Working Group (EBWG)
The IASB established the group to help in its project on post-employment benefits by providing a variety of expert perspectives, including those of: actuaries, auditors and other experts, preparers and users of financial statements, and regulators.
The group consists of senior professionals with extensive practical experience in the operation, management, valuation, financial reporting, auditing or regulation of a variety of post-employment benefit arrangements.
Page last updated: 10 August 2010