Pensions Accounting – Page 3
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News
Alecta slashes one-off premiums by 7% as higher rates cheapen DB
Swedish pensions giant lowers premiums for PRI redemptions, saying pricing must be based on current market conditions
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Features
Accounting: IASB risks annoying stakeholders
If nothing else, the appointment of Linda Mezon-Hutter to the International Accounting Standards Board promises to bring a much-needed breath of fresh air and dose of reality to the standard-setter’s sleepy proceedings.
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News
LDI is ‘the ultimate folly’, says UK pensions expert Keating
September crisis was no black-swan event but certain to happen in time, Con Keating tells event
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News
IASB calls time on pensions, fair value disclosure project
Instead, board members are to develop proposals in March 2021 exposure draft for use by the board when drafting disclosure requirements in future
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Features
Single versus double materiality: ISSB faces inconvenient truths
Climate change denial has been a tough ask this summer. Forest fires raged across Europe, part of a London suburb caught light, and hurricane-force winds left a trail of destruction in southern Austria. The doom loop was complete when falling river levels left France’s nuclear power plants battling to produce enough energy to meet the demand for cooling.
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News
Volatile markets bring annual reporting challenges as deadline looms for trustees
Trustees should consider the accounting implications of how much a scheme is exposed to current volatility
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Features
IASB's management commentary project faces identity crisis
Any regular follower of the International Accounting Standards Board is probably familiar with a particular recurring nightmare. It starts with good intentions but spirals into shifting project goals, missed targets, and unquantifiable hours of wasted time. Perhaps you awoke during July to find yourself observing the board’s July discussion of its management commentary project.
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Features
Accounting: Packed agenda as ISSB takes shape
ISSB board aims to finalise its first two sustainability standards by the end of the year A consultation on the ISSB’s work priorities is planned for later this year The role of materiality in sustainability reporting remains a hotly debated topic
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News
UK DB pension scheme funding proposal ‘risks corporate insolvencies, asset fire sales’
Consultants warn on ‘dramatic’ impact of new UK DB pension scheme funding rules as DWP proposal raises insolvency risks
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News
IASB opts for ‘middle-ground’ over IAS 19, IFRS 13 disclosure changes
Chair Andreas Barckow sensed ‘limited appetite’ for taking forward the board’s proposals for a fresh approach to disclosure in IAS 19 and IFRS 13
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News
PenSam told to tighten up procedures around private equity valuations
Danish FSA hands out official orders to add paperwork on performance monitoring, amid wider regulatory focus on private equity
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Features
A broader view on corporate pension disclosures
What is not to like? Finally, a principles-based approach to the disclosures in financial statements that aims to cut the clutter and home in on the material that is truly material.
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News
IASB to decide pensions disclosure project next steps in September
Chair warns of danger of extending the scope of the project beyond that originally envisaged at the start of the project
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Features
Accounting: IASB risks project duplication over sustainability
Looking back, the warning signs were clear. “The trustees of the IFRS Foundation are considering whether [we] should play a role in the development of sustainability reporting standards,” the March 2021 exposure draft explains.
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News
New pension projection rules could generate ‘perverse’ results, LCP warns
Consultancy argues against proposed volatility-based approach for determining DC accumulation rate
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News
IASB to mull management commentary, ISSB remit overlap
Eumedion among respondents urging a rethink of management commentary approach
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Features
Accounting: IASB shortlist of projects hits a snag
The best laid plans of mice and men often go awry. Or so they say. March was supposed to be the month when the International Accounting Standards Board (IASB) whittled down its shortlist of potential standard-setting projects for a final vote in April. But nothing ever goes to plan.
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Features
Accounting: IASB grapples with IAS 19
The staff could hardly have been more blunt: “Overall, we received mixed feedback on our IAS 19 [International Accounting Standard 19] proposal,” they told the International Accounting Standards Board (IASB) in March. The proposal in question is a March 2021 exposure draft in which the IASB trialled a new approach to disclosure by focusing on objectives aimed at teasing out relevant information.
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News
IASB rules out work on pensions accounting, related issues
The decision draws a line under hopes in some quarters that the board would attempt to fix deficiencies in hybrid pension plan accounting
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News
IOPS sets out good practice for making pension projections, warns of pitfalls
Forecasts can be ‘powerful tool’ to manage people’s expectations and sway their retirement decisions, says international body