Final salary pension schemes are to adopt a new set of accounting rules in June, which could cause...
Final salary pension schemes are to adopt a new set of accounting rules in June, which could cause changes to investment strategies and discourage employers from providing final salary schemes, according to HSBC actuaries. The standards, now known as FRS17, were passed by the Accounting Standards Board (ASB) and are intended to make reported pension costs easier to understand and comparisons between companies more valid. The key objectives are to measure assets and liabilities at fair value and to allow immediate recognition of actuarial gains and losses. This means that for defined be...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes