Hymans Robertson, the actuarial consultancy, has urged the Accounting Standards Board (ASB) to reconsider changes to its international pension accounting rules.
The consultancy says the changes to IAS19, due in 2008, will deter companies from prudently funding their pension schemes by hitting their balance sheets. Those companies who are slower to tackle their pension problems will find their balance sheet unaffected. Hymans Robertson has called on the Pensions Regulator to consider how to mitigate the rules and to ensure companies fund UK pension schemes prudently. It also warns company analysts to consider the impact of rule changes to avoid making inaccurate comparisons between different companies. Patrick Bloomfield, partner and actuary at...
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