Remeasurement on a Plan Amendment, Curtailment or Settlement/Availability of a Refund from a Defined Benefit Plan: Proposed amendments to IAS 19 and IFRIC 14 - Exposure Draft and Comment Letters
On 18 June 2015 the International Accounting Standards Board (IASB) published for public comment proposed narrow-scope amendments to its pension accounting requirements. The proposed changes are designed to improve information to investors and address some diversity in practice.
When a defined benefit plan is amended, curtailed or settled during a reporting period, the entity needs to update the assumptions about its obligation and fair value of its plan assets to calculate costs related to these changes. The proposed amendments to IAS 19 Employee Benefits specify that the entity is required to use the updated information to determine current service cost and net interest for the period followed by these changes.
The proposed amendments to IFRIC 14 IAS 19–The Limit on a Defined Benefit Asset, Minimum Funding Requirements address 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 Exposure Draft Remeasurement on a Plan Amendment, Curtailment or Settlement/Availability of a Refund from a Defined Benefit Plan (Proposed amendments to IAS 19 and IFRIC 14) is open for public comment for 120 days.
View the Comment Letters.