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U.K. Accounting Changes Could Slash Pension Surplus on Balance Sheets
Pensions & Investments Link to more items from this source
Aug. 12, 2014
"Currently, U.K. companies declare a pension fund surplus on their balance sheets ... since there is a theoretical point where the company will be refunded that surplus, once the last member of a defined benefit plan is paid. However, under changes that have been proposed by the IFRIC14 -- a subcommittee of a branch of the [IASB] -- this surplus would no longer be recognized unless there is a realistic expectation that the company would have access to that surplus in the future. Companies would therefore have to take into account the expected behavior of plan trustees, such as derisking plans, which could reduce the calculated accounting surplus."

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