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Final stage

On 16 June 2011 the IASB issued a new version of IAS 19 Employee Benefits, which was effective from 1 January 2013. This version finalised:

  • proposals in the exposure draft Defined Benefit Plans, published in 2010; and
  • proposals related to termination benefits in the exposure draft IAS 37 Provisions, Contingent Liabilities and Contingent Assets, published in 2005.

The new version made targeted improvements in the following areas:

  • recognition of changes in the net defined benefit liability (asset), including:
    • immediate recognition of defined benefit cost.
    • disaggregation of defined benefit cost into components.
    • recognition of remeasurements in other comprehensive income.
  • plan amendments, curtailments and settlements.
  • disclosures about defined benefit plans.
  • accounting for termination benefits. 
  • miscellaneous issues, including:
    • the classification of employee benefits.
    • current estimates of mortality rates.
    • tax and administration costs.
    • risk-sharing and conditional indexation features.

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