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Current Issues in Pensions Financial Reporting - 31 December 2018

Published by Martin Hooper on

There are a number of considerations for company directors with a 31 December year-end to take into account when setting these assumptions and for auditors in determining whether the assumptions are appropriate.

Some of the technical issues relevant to those involved in the preparation and the audit of pension disclosures are covered in detail.  These will also be relevant for those companies currently planning for their 31 March 2019 year-end disclosures.

Key findings include:

  • discount rates are expected to be higher than last year; reducing liabilities
  • moving to the latest Continuous Mortality Investigation (CMI) 2017 mortality projection model also leads to a small reduction in liabilities
  • however, falls in asset values over the year means many schemes will see little change in their funding position
  • on 26 October 2018, the high court published its judgment on GMP equalisation requirements, and this may result in      higher liabilities and unexpected P&L charges


To continue reading, please download the briefing note below.

Current Issues in Pensions Financial Reporting - 31 December 2018
696.0 KB | PDF

About the author

  • Martin Hooper

    Martin advises a range of businesses on defined benefit pension issues including scheme funding, accounting disclosures, risk management, liability reduction exercises and pension benefit design.

    View Biography

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