Ias 19 discount rate


6 See agenda paper 11C 7 See iasb Update December Page 8 of eventim discount voucher 12 9 Preliminary agenda criteria assessment.
We will present the results of this outreach during the March Interpretation Committee meeting.
View 2 pre-tax discount rate is appropriate.
The most obvious and important one is the AA Corporate spread tightening, which the pension schemes partially faced at the beginning of 2009.The same result could be achieved by discounting the expected benefits payable plus the tax bloomingdales cyber monday promo code payable on the future investment returns at a pre-tax discount rate (ie CU70/7 per cent CU100/10 per cent CU1,000).Above that maturity point the asset manager falls back to government bonds and for maturities higher than 30 years to interest rate swaps.IAS 19 does not mention, and therefore does not envisage, a tax adjustment to the discount rate.Consequently, in this fact pattern the use of a post-tax discount rate represents the economic reality.An abstract of the Due Process Handbook issued in February 2013 is reported in Appendix B of this paper.In particular, the submitter asked the Interpretations Committee to clarify whether, in accordance with IAS 19 Employee Benefits (2011 the discount rate used to calculate a defined benefit liability should be a pre-tax or a post-tax rate.Page 11 of 12 12 Appendix B Abstract of the Due Process Handbook (February 2013).16 The Interpretations Committee should address issues: (a) that have widespread effect and have, or are expected to have, a material effect on those affected; (b) where financial reporting would.Consequently, the inclusion of future tax payments on investment income in the measurement of the defined benefit obligation is inconsistent with the requirements of IAS.They also think that discounting the expected benefits payable at a post-tax discount rate is one way of including expected tax payments on investment income as part of the ultimate cost of providing benefits.8 Subject to the result of the outreach.Around 35 of ftse 100 businesses were more than 95 funded last year, compared to 30 in 2012 and a 10pp increase on 2010.



Their objective was not to reward pension schemes in trouble by underestimating their pension liabilities due to, in their opinion, dislocations in the markets.
Due to liquidity issues one is definitely limited to a maturity of 25 years within this curve approach.
The plan holds sufficient assets to fund those benefits.On the one hand the AA Corporate yields increase decreased the value of their liabilities.Although some actuarial companies discussed and applied the smoothing effect in order to mitigate the consequences of this massive spread widening alongside a significant decrease of the pension liabilities, it led to a partial mitigation of the deterioration on equity and credit markets.Liquidity ensures to a certain extent the stability in pricing and minimises the occurrence of extreme bond yields.In their view, the calculation of the defined benefit obligation should be independent of the funding status of the plan.Page 3 of 12 4 If the fund was designed to be fully funded and to invest solely in risk-free assets, the income statement would be: Investment income Tax Investment income after tax Benefits Net income CU100 CU(30) CU70 CU(70) Nil This income statement would.4 In this staff paper, currency amounts are denominated in currency units (CU).However, others question whether a post-tax discount rate is permitted by IAS 19 (2011).



If a pre-tax discount rate (10 per cent) were used to determine the present value of the defined benefit obligation (ie the present value of CU70 a year in perpetuity the resulting liability would be CU700 (ie CU 70/10 per cent).

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