• Service: Audit, IFRS
  • Date: 11/22/2013

Employee contributions – A practical approach 

Changes to pension accounting finalised by the IASB this week will provide some welcome relief from the potentially burdensome requirements that many companies would be applying for the first time in 2013.

However, not all companies will see the benefits of this practical expedient. The amendments are relevant only to defined benefit plans that involve contributions from employees or third parties meeting certain criteria.

Companies accounting for employee or third party contributions that cannot (or decide not to) apply the practical expedient will benefit instead from a clarification.

The amendments apply retrospectively for annual periods beginning on or after 1 July 2014. Earlier application is permitted.

Employee contributions (2013/20)

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This In the Headlines looks at amendments to the accounting for defined benefit pension schemes under IAS 19 Employee Benefits (2011).

© 2014 KPMG IFRG Limited is a UK company, limited by guarantee. All rights reserved. KPMG IFRG Limited, registered in England No 5253019. Registered office: 8 Salisbury Square, London, EC4Y 8BB


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